In a report released today, Keith Bachman from BMO Capital maintained a Hold rating on UiPath, with a price target of $13.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Keith Bachman has given his Hold rating due to a combination of factors that reflect both optimism and caution regarding UiPath’s current market position. While he acknowledges the promising updates and enhancements to UiPath’s Maestro orchestration platform, he notes that the competitive landscape for automation and orchestration tools is intense, with major players like IBM and NOW also making significant strides. This competitive pressure makes it challenging to predict UiPath’s leadership in the segment at this time.
Additionally, Bachman highlights that although UiPath’s recent product developments are encouraging, particularly in terms of customer adoption and tangible use cases, there remains uncertainty about the company’s differentiation from its competitors. Furthermore, macroeconomic factors such as inflation and interest rates pose challenges to the expansion of long-duration cash flow assets like UiPath. As a result, Bachman remains cautiously optimistic, opting for a Hold rating while awaiting more evidence of UiPath’s ability to improve its market positioning and financial performance.
In another report released today, Barclays also maintained a Hold rating on the stock with a $14.00 price target.