Canaccord Genuity Initiates a Hold Rating on UiPath (PATH)

UiPath (PATH) received a Hold rating and a $70.00 price target from Canaccord Genuity analyst David Hynes today. The company’s shares closed last Friday at $70.48.

According to, Hynes is a top 100 analyst with an average return of 28.5% and a 68.1% success rate. Hynes covers the Technology sector, focusing on stocks such as Qualtrics International, ZoomInfo Technologies, and BigCommerce Holdings.

Currently, the analyst consensus on UiPath is a Moderate Buy with an average price target of $75.33, representing a 10.0% upside. In a report issued on May 13, Berenberg Bank also initiated coverage with a Hold rating on the stock with a $64.00 price target.

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Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PATH in relation to earlier this year.

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UiPath Inc creates an end-to-end platform that provides automation with user emulation at its core. Its platform is built to be used by employees throughout a company and to address a wide variety of use cases, from simple tasks to long-running, complex business processes. It generates revenue from the sale of licenses for its proprietary software, maintenance and support, and professional services. It generates a majority of the revenues from the US, followed by Romania and the rest of the world.

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