JPMorgan Starts UiPath Inc. (PATH) at Neutral
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JPMorgan analyst Mark Murphy initiates coverage on UiPath Inc. (NYSE: PATH) with a Neutral rating and a price target of $68.00.
The analyst comments "UiPath is the leader in Robotic Process Automation (RPA). It offers tools that enable companies to improve process efficiencies through automation across the organization, often landing small and expanding virally across use-cases, departments and subsidiaries, fueled by tangible and fast return on investments. UiPath’s comprehensive platform allows companies to run the entire automation lifecycle, starting from discovering processes that could benefit from automation, to building, running, managing, governing and scaling those automations, to finally measuring the business impact from those automations. Our customer due diligence clearly underscores the strong and forward thinking vision of the company, along with the strength of the platform balanced with the ease of use of the tools, with the latter now starting to democratize automation development to business users. Our PT of $68 is based on 34x EV/CY22E revenue."
Shares of UiPath Inc. closed at $70.48 yesterday.
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