5 Best Low-Priced Technology Stocks To Invest In

4. UiPath Inc. (NYSE:PATH)

Number of Hedge Fund Holders: 36

Robotic Automation Process (RPA) software company UiPath Inc. (NYSE:PATH) stock is having a decent year in 2023, having gained about 30% in the period through March 28.

UiPath Inc. (NYSE:PATH)’s hedge fund sentiment saw a boost in the fourth quarter, as 36 hedge funds in Insider Monkey’s database reported owning stakes in the company at the end of the period, compared to 26 hedge funds in the previous quarter. The biggest hedge fund stakeholder of UiPath Inc. (NYSE:PATH) at the end of December 2022 was Catherine D. Wood’s ARK Investment Management which owns a $560 million stake in the company.

Earlier in March, UiPath Inc. (NYSE:PATH) jumped after Canaccord Genuity’s Kingsley Crane upgraded the stock to Buy from Hold and also increased his price target to $19 from $14.50 after the company posted strong Q4 results.

UiPath Inc. (NYSE:PATH)’s adjusted EPS in the quarter came in at $0.15, beating estimates by $0.08. Revenue in the quarter increased by about 6.5% on a YoY basis to reach $308.5 million, beating estimates by $29.81 million.