UiPath (NASDAQ:PATH) Sees Large Volume Increase Following Analyst Upgrade

UiPath Inc. (NASDAQ:PATH) shares saw strong trading volume on Thursday after BMO Capital Markets raised their price target on the stock from $80.00 to $85.00. BMO Capital Markets currently has a market perform rating on the stock. 117,150 shares traded hands during trading, a decline of 96% from the previous session’s volume of 2,689,342 shares.The stock last traded at $71.25 and had previously closed at $68.71.

A number of other brokerages have also weighed in on PATH. Wolfe Research initiated coverage on UiPath in a research note on Monday, May 17th. They set a “peer perform” rating and a $70.00 price target on the stock. Mizuho started coverage on UiPath in a research note on Monday, May 17th. They set a “buy” rating and a $77.00 price target on the stock. Wells Fargo & Company started coverage on UiPath in a research report on Monday, May 17th. They issued an “equal weight” rating and a $75.00 target price on the stock. Truist Securities increased their target price on UiPath from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Truist increased their target price on UiPath from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $76.89.

In other news, major shareholder East Fund 2013 Sca Sic Digital sold 2,100,400 shares of UiPath stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $56.00, for a total transaction of $117,622,400.00. Also, CEO Daniel Dines sold 1,383,168 shares of UiPath stock in a transaction that occurred on Friday, April 23rd. The shares were sold at an average price of $56.00, for a total value of $77,457,408.00. Insiders sold 5,011,241 shares of company stock worth $280,629,496 in the last three months.

The business has a fifty day moving average of $56.76.

UiPath (NASDAQ:PATH) last announced its earnings results on Monday, June 7th. The healthcare company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.07.

UiPath Company Profile (NASDAQ:PATH)

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, and Japan. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.

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