UiPath (NYSE:PATH) Price Target Cut to $12.00 by Analysts at Mizuho

UiPath (NYSE:PATH) had its target price dropped by equities research analysts at Mizuho from $14.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price indicates a potential upside of 18.84% from the stock’s current price.

Other analysts also recently issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. BMO Capital Markets lifted their target price on shares of UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Finally, Bank of America restated an “underperform” rating and set a $10.00 price target (down from $18.00) on shares of UiPath in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.50.

UiPath Stock Performance

PATH stock traded down $1.73 during mid-day trading on Thursday, hitting $10.10. The company had a trading volume of 17,368,225 shares, compared to its average volume of 9,543,211. UiPath has a 12 month low of $9.50 and a 12 month high of $25.47. The stock’s fifty day moving average price is $13.47 and its two-hundred day moving average price is $13.18. The firm has a market cap of $5.55 billion, a PE ratio of -63.11 and a beta of 1.00.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,227 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the sale, the chief accounting officer now directly owns 269,421 shares in the company, valued at $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UiPath

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc boosted its position in shares of UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock worth $187,000 after purchasing an additional 736 shares in the last quarter. V Square Quantitative Management LLC raised its stake in UiPath by 33.4% during the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares during the last quarter. Tidal Investments LLC boosted its holdings in UiPath by 3.7% in the fourth quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock worth $286,000 after acquiring an additional 797 shares in the last quarter. True Wealth Design LLC grew its stake in shares of UiPath by 18.4% in the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock worth $66,000 after acquiring an additional 801 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after acquiring an additional 804 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About UiPath

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.