UiPath Inc. (PATH) PT Lowered to $14 at Mizuho

Mizuho analyst Siti Panigrahi lowered the price target on UiPath Inc. (NYSE: PATH) to $14.00 (from $25.00) while maintaining a Neutral rating.

The analyst commented: "While FQ1's revenue was slightly ahead of consensus expectations (a 0.6% beat), management significantly lowered its FY25 revenue growth guidance from 19% to 8%, citing pressures on multi-year deals due to macro challenges and execution issues. We believe that lowering growth guidance, coupled with the CEO stepping down, has derailed the recovery path and will further raise concerns among investors about the demand for RPA given the AI hype. In our view, UiPath is likely to face several issues (both macro uncertainty and company execution) over the near-term. Thus, we reiterate our Neutral rating and lower our PT to $14 ($25 previously), which implies 4x NTM EV/rev and 26x NTM EV/FCF, in line with peers."

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