Cowen Sees Faster Path to Profits for UiPath Inc. (PATH) with Restructuring, Jobs Cuts

Cowen analyst Bryan Bergin reiterated an Outperform rating and $27.00 price target on UiPath Inc. (NYSE: PATH) after the company announced restructuring actions that include a ~5% reduction in workforce and other efficiency measures.

The analyst commented, "While it absorbs ~$15MM of severance & other expenses, it affirmed growth guides & modestly raised FY23 adj EBIT outlook. With a clear shift among growth investors seeking profitability & FCF, we expect PATH's increased emphasis on profitable growth to be appreciated by the Street."

For an analyst ratings summary and ratings history on UiPath Inc. click here. For more ratings news on UiPath Inc. click here.

Shares of UiPath Inc. closed at $21.92 yesterday.

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