Analysts Are Upgrading These 5 Stocks

3. UiPath Inc. (NYSE:PATH)

Number of Hedge Fund Holders: 46 

UiPath Inc. (NYSE:PATH) is a New York-based company that markets an automation platform robotic process automation solutions in the US and Japan. It is ranked third on our list of 10 stocks that analysts are upgrading.

On September 17, investment advisory Barclays upgraded UiPath Inc. (NYSE:PATH) stock to Overweight from Equal Weight and raised the price target to $71 from $70, underlining relative value in the share on a growth-adjusted basis. 

At the end of the second quarter of 2021, 46 hedge funds in the database of Insider Monkey held stakes worth $3.4 billion in UiPath Inc. (NYSE:PATH). 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and UiPath Inc. (NYSE:PATH) was one of them. Here is what the fund said:

“We participated in the IPO of UiPath, a developer of software for robotic process automation that uses AI, natural language processing and design to streamline complex processes across a variety of technology environments. The company is an industry leader with a superior solution for leveraging software to optimize workloads. Organizations around the world are beginning to understand the power of automation, with momentum picking up toward fully automating business processes, a $60 billion market today that could grow to $200 billion or more by 2030. UiPath has a unique pricing model, broad partner ecosystem and thoughtful management team supporting one of the strongest growth profiles in technology. Risks we are watching include a partial cloud transition ahead and increased competition from larger software platforms over time.”