UiPath (NYSE:PATH) Shares Up 2.6% - What’s Next?

UiPath Inc. (NYSE:PATH) experienced a 2.6% increase in its share price during mid-day trading on Tuesday. The stock reached a peak of $13.29 and was last seen at $13.16. Approximately 1,579,685 shares traded hands, representing a significant drop of 81% from the average daily volume of 8,153,080 shares. The previous close was marked at $12.83.

Analysts Set New Price Targets

Several brokerages have weighed in on UiPath's stock recently. On October 23rd, Wells Fargo & Company lowered its price target for the shares from $15.00 to $13.00, maintaining an 'equal weight' rating on the company. Barclays followed suit, reducing its price target from $16.00 to $15.00 with the same 'equal weight' rating in a research note issued on the preceding Friday. Meanwhile, Royal Bank of Canada reiterated a 'sector perform' rating, setting a target price of $16.00 on Friday, December 6th.

On the same day, JPMorgan Chase & Co. increased its price objective for UiPath from $17.00 to $18.00 alongside an 'overweight' rating. Additionally, BMO Capital Markets also raised its price target from $15.00 to $16.00, assigning a 'market perform' rating. In overall terms, one analyst rates the stock as a sell, sixteen have a hold recommendation, and two analysts suggest a buy rating. According to MarketBeat, the stock garners a consensus rating of 'Hold' with an average price target of $17.44.

UiPath Stock Performance

UiPath boasts a market capitalization of $7.19 billion and has a P/E ratio of -81.75, indicating it may be operating at a loss. The stock's beta value stands at 0.96, suggesting its price movements are comparable to the market. Its fifty-day moving average is currently at $13.57, while the 200-day moving average is lower at $12.77.

Insider Buying and Selling at UiPath

In related news, on January 3rd, CFO Ashim Gupta sold 47,227 shares at an average price of $13.06, totalizing approximately $616,784.62. Post-transaction, Gupta retains 856,538 shares valued at about $11,186,386.28, reflecting a 5.23% reduction in ownership. This transaction was publicly disclosed through a legal filing.

Similarly, CAO Hitesh Ramani sold 25,000 shares at an average price of $13.05, worth about $326,250. After this sale, Ramani’s holdings decreased to 269,421 shares valued at approximately $3,515,944.05, marking an 8.49% decrease in ownership. Insider ownership at UiPath is significant, totaling 22.37% of the company's stock.

Institutional Trading of UiPath

Several hedge funds have recently adjusted their positions in UiPath. Future Financial Wealth Management LLC acquired a new stake during the third quarter, estimated at about $26,000. JTC Employer Solutions Trustee Ltd made a similar investment, also valued at approximately $26,000. Quarry LP increased its holdings by an impressive 654.4% in the same quarter, now owning 3,146 shares valued at $40,000 after an additional purchase.

Redwood Wealth Management Group LLC entered the UiPath market during the second quarter with a position worth about $43,000. Finally, Allspring Global Investments Holdings LLC boosted its stake by 124.7% during the third quarter, owning 4,098 shares now valued at $52,000 after increasing its position by 2,274 shares. Institutional ownership in UiPath stands at 62.50%.

UiPath Company Profile

UiPath Inc. provides a comprehensive automation platform that delivers a suite of robotic process automation (RPA) solutions mainly in the United States, Romania, the United Kingdom, the Netherlands, and across the globe. The firm offers an interconnected software suite designed to create, manage, run, engage, measure, and govern automation within various organizations.

Should You Invest $1,000 in UiPath Right Now?

It's crucial for potential investors to assess the situation before investing in UiPath. MarketBeat regularly tracks top-rated analysts and their stock recommendations for clients. Interestingly, UiPath isn't among the five stocks that leading analysts currently favor, indicating that there may be better investment opportunities available in the market.

Although UiPath holds a 'Hold' rating from analysts, the focus is shifting towards stocks with stronger buy signals. Investors may want to consider these alternatives carefully.

Stocks, Investment, UiPath