Needham & Company LLC Reaffirms “Hold” Rating for UiPath (NYSE:PATH)

UiPath (NYSE:PATH)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

A number of other brokerages have also weighed in on PATH. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. BMO Capital Markets increased their price target on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Evercore ISI raised their price target on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, Barclays increased their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.50.

UiPath Price Performance

Shares of PATH opened at $12.97 on Thursday. The company’s fifty day moving average price is $13.41 and its 200-day moving average price is $12.61. UiPath has a 1-year low of $10.37 and a 1-year high of $27.87. The firm has a market capitalization of $7.13 billion, a PE ratio of -81.06 and a beta of 0.94.

Hedge Funds Weigh In On UiPath

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in shares of UiPath in the second quarter valued at about $69,180,000. Jacobs Levy Equity Management Inc. raised its holdings in UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after acquiring an additional 3,411,562 shares during the last quarter. Senvest Management LLC boosted its holdings in shares of UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after purchasing an additional 1,559,500 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of UiPath in the third quarter valued at approximately $19,071,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of UiPath in the second quarter valued at approximately $13,280,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Company Profile

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.