Macquarie Downgrades UiPath Inc. (PATH) to Neutral

Macquarie analyst Frederick Havemeyer downgraded UiPath Inc. (NYSE: PATH) from Outperform to Neutral with a price target of $12.00 (from $29.00).

The analyst comments: "We thought going into FQ1 that UiPath had executed on its turnaround story and stabilized growth. With the sudden departure of CEO Rob Enslin, a guidance cut, and management acknowledging that the company's go-to-market strategy has underperformed its expectations, we see our prior view was incorrect. We therefore downgrade UiPath to Neutral as we think there is little to do with the stock until and unless it can show a sustained turnaround. Further, as GenAI has shown it can operate computer UI like a human without guidance, we think additional questions will be raised about what place traditional RPA may have within enterprises."

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 $12.26 yesterday.

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