Royal Bank of Canada lowers UiPath (NASDAQ:PATH) price target to $37.00

UiPath (NASDAQ:PATH – Get Rating) had its price target reduced by the Royal Bank of Canada from $47.00 to $37.00 in a research report released Monday to clients and investors, reports The Fly. Royal Bank of Canada’s target price indicates a potential upside of 28.47% from the company’s previous close.

A number of other equity research analysts also weighed in on PATH. Barclays cut its price target on UiPath shares from $61.00 to $57.00 in a Wednesday, January 12 report. Truist Financial cut its price target on UiPath shares from $82.00 to $75.00 and set a “buy” rating on the stock in a Thursday, Dec. 9 research report. The analyst says his target price reduction reflects his discounted discounted cash flow model, but he also recommends investors take advantage of the general weakness that has impacted software as an attractive buying opportunity to buy UiPath for its history of long-term compound growth. Tillman further points to the company’s new record net ARR, “constructive” Q4 outlook, and a variety of new innovations on the way, such as automation bots for Mac users, multi-cloud multi- platforms, automation cloud pull and tasks/processes. mining. Zacks Investment Research downgraded UiPath shares from a “hold” rating to a “sell” rating in a research report on Tuesday, December 14. Morgan Stanley downgraded UiPath shares from an “equal weight” rating to an “overweight” rating and set a target price of $74.00 on the stock in a Friday, Dec. 3 research report . Finally, Cleveland Research took over UiPath stock coverage in a Monday, November 29 research report. They set a “neutral” rating on the stock. Three investment analysts gave the stock a sell rating, six gave the company a hold rating and fourteen gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.68.

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Each 70 kWh Tesla Model S battery contains nearly 140 pounds of lithium, the energy metal. The megatrend of electrified vehicles will only increase the demand for lithium, which is expected to skyrocket by 1,000% or more by 2030.

Shares of PATH opened at $28.80 on Monday. UiPath has a 1 year minimum of $23.93 and a 1 year maximum of $90.00. The company has a 50-day moving average of $32.96 and a 200-day moving average of $43.22.

Separately, insider Brad Brubaker sold 2,921 shares of the company in a trade on Monday, January 3. The shares were sold at an average price of $43.26, for a total value of $126,362.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, CFO Ashim Gupta sold 24,546 shares of the company in a trade on Monday, January 3. The stock was sold at an average price of $43.26, for a total transaction of $1,061,859.96. The disclosure of this sale can be found here. During the last quarter, insiders sold 206,730 shares of the company valued at $8,074,148.

Several institutional investors have recently increased or reduced their stake in the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings of UiPath shares by 134.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,114,369 shares of the healthcare company valued at $742,557,000 after purchasing an additional 8,085,723 shares during the period. Nikko Asset Management Americas Inc. increased its holdings of UiPath shares by 133.9% in the third quarter. Nikko Asset Management Americas Inc. now owns 14,094,071 shares of the healthcare company valued at $739,939,000 after purchasing an additional 8,069,377 shares during the period. Sands Capital Ventures LLC purchased a new stake in UiPath stock in the third quarter worth approximately $200,538,000. ARK Investment Management LLC increased its holdings of UiPath shares by 12.4% in the fourth quarter. ARK Investment Management LLC now owns 26,902,940 shares of the healthcare company valued at $1,160,324,000 after purchasing an additional 2,969,072 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings of UiPath shares by 72.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,437,445 shares of the healthcare company valued at $277,647,000 after purchasing an additional 2,697,742 shares during the period. 51.80% of the shares are held by institutional investors and hedge funds.

About UiPath (Get a rating)

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. He develops UiPath Studio, a platform designed for RPA developers looking to create 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 integrate machine learning models into production workflows.

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