In a report released yesterday, SMBC Nikko from SMBC Nikko initiated coverage with a Buy rating on UiPath (PATH) and a price target of $80.00. The company’s shares closed last Monday at $68.00.
UiPath has an analyst consensus of Moderate Buy, with a price target consensus of $75.74, which is an 11.4% upside from current levels. In a report released yesterday, Needham also initiated coverage with a Buy rating on the stock with a $85.00 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.
