Needham analyst Scott Berg reiterated a Buy rating on UiPath (PATH – Research Report) today and set a price target of $30.00.
Scott Berg’s rating is based on a thorough assessment of UiPath’s recent product innovations and strategic direction. His optimism stems from UiPath’s advancements in specialized large language models (LLMs) tailored for document understanding—a significant growth area given the vast amount of diverse documentation in need of processing. Berg recognizes that these innovations are well-aligned with generative AI capabilities, positioning UiPath to capitalize on this emerging trend. Additionally, he sees the company’s focus on expanding use cases as a precursor to increased bot usage, which in turn should lead to more sustainable revenue growth for the company.
Furthermore, Berg underscores the potential impact of UiPath’s Autopilot functionality on the ease of adoption. By reducing the necessity for programming skills to use UiPath’s bots, the Autopilot feature could significantly lower barriers to entry, thereby broadening the user base. This ease of use, combined with strong innovation, supports his reiteration of a Buy rating for UiPath. In essence, Berg’s assessment reflects confidence in UiPath’s trajectory toward expanding its total addressable market and fostering user engagement through its cutting-edge AI-driven solutions.
In another report released on March 15, Truist Financial also maintained a Buy rating on the stock with a $32.00 price target.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
UiPath (PATH) Company Description:
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.
