Mizuho Cuts UiPath (NYSE:PATH) Price Target to $11.00

UiPath (NYSE:PATH) had its price objective lowered by Mizuho from $12.00 to $11.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price indicates a potential upside of 5.77% from the stock’s previous close.

A number of other brokerages have also weighed in on PATH. Barclays cut their price objective on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Canaccord Genuity Group cut their price target on shares of UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Scotiabank decreased their price objective on shares of UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company cut their price objective on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Evercore ISI decreased their target price on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, UiPath currently has an average rating of “Hold” and an average price target of $12.72.

UiPath Trading Down 1.7 %

NYSE:PATH opened at $10.40 on Tuesday. The firm has a fifty day simple moving average of $11.80 and a 200-day simple moving average of $12.82. UiPath has a 12 month low of $9.38 and a 12 month high of $20.95. The company has a market capitalization of $5.74 billion, a P/E ratio of -65.00 and a beta of 1.04.

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total value of $127,375.00. Following the sale, the chief accounting officer now directly owns 314,891 shares of the company’s stock, valued at $3,208,739.29. The trade was a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PATH. Jackson Creek Investment Advisors LLC purchased a new position in shares of UiPath in the fourth quarter worth about $298,000. Principal Financial Group Inc. raised its holdings in UiPath by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after acquiring an additional 3,477 shares during the last quarter. Geode Capital Management LLC lifted its stake in UiPath by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after purchasing an additional 493,502 shares in the last quarter. ING Groep NV purchased a new stake in shares of UiPath in the fourth quarter valued at approximately $3,120,000. Finally, Pacer Advisors Inc. grew its position in shares of UiPath by 698.1% in the fourth quarter. Pacer Advisors Inc. now owns 289,471 shares of the company’s stock valued at $3,679,000 after purchasing an additional 253,203 shares in the last quarter. 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.