Needham Issues a Buy Rating on UiPath (PATH)


In a report released today, Scott Berg from Needham assigned a Buy rating to UiPath (PATH), with a price target of $85.00. The company’s shares closed last Tuesday at $76.00.

According to TipRanks.com, Berg is a top 100 analyst with an average return of 30.1% and a 71.1% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and BigCommerce Holdings.

Currently, the analyst consensus on UiPath is a Moderate Buy with an average price target of $75.50, which is a 0.4% upside from current levels. In a report issued on May 26, SMBC Nikko also initiated coverage with a Buy rating on the stock.

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Based on the recent corporate insider activity of 13 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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