Mizuho Issues Pessimistic Forecast for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH - Free Report) had its price objective lowered by Mizuho from $12.00 to $11.00 in a research note published on Tuesday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Several other analysts also recently weighed in on PATH. Bank of America restated an "underperform" rating and set a $10.00 price objective (down previously from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Evercore ISI lowered their price target on UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a report on Thursday, March 13th. Barclays decreased their price objective on UiPath from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Scotiabank dropped their price target on shares of UiPath from $15.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Thursday, March 13th. Finally, BMO Capital Markets dropped their target price on shares of UiPath from $16.00 to $11.50 and set a "market perform" rating for the company in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, UiPath currently has a consensus rating of "Hold" and a consensus target price of $12.72.

UiPath Stock Performance

Shares of PATH traded up $0.06 during midday trading on Tuesday, hitting $10.44. The company had a trading volume of 11,973,213 shares, compared to its average volume of 10,506,864. The company's 50-day simple moving average is $11.65 and its 200-day simple moving average is $12.79. UiPath has a 1 year low of $9.38 and a 1 year high of $20.95. The firm has a market capitalization of $5.76 billion, a P/E ratio of -65.25 and a beta of 1.04.

Insider Buying and Selling

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the sale, the chief accounting officer now owns 314,891 shares in the company, valued at $3,208,739.29. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 22.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UiPath

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in UiPath in the fourth quarter valued at $71,191,000. Senvest Management LLC raised its stake in shares of UiPath by 29.2% in the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock valued at $178,890,000 after purchasing an additional 3,180,300 shares in the last quarter. AQR Capital Management LLC grew its stake in UiPath by 45.3% in the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after purchasing an additional 2,072,089 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in UiPath by 35.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company's stock valued at $69,385,000 after buying an additional 1,432,569 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in UiPath by 111.8% during the fourth quarter. Marshall Wace LLP now owns 2,456,102 shares of the company's stock valued at $31,217,000 after buying an additional 1,296,382 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

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.