TECH - UiPath Shares Jump After Q3 Earnings: 6 Analysts Weigh In | Benzinga
UiPath Inc (NYSE: PATH) shares jumped in premarket trading on Friday, after the company reported its third-quarter results.
The results came during an exciting earnings season. Here are some key analyst takeaways from the earnings release.
BMO Capital Markets On UiPath
Analyst Keith Bachman maintained a Market Perform rating while raising the price target from $19 to $24.
"PATH delivered yet another solid quarter,” Bachman wrote in a note. Annual recurring revenue (ARR) grew by 24% to $1,378 million, "driven by strong enterprise deals this quarter with a record number of >$1M deals closed,” he added.
"We stay on the sidelines as we look for more conviction about growth potential and mix impact vs. potential GenAI headwinds,” the analyst stated.
RBC Capital Markets On UiPath
Analyst Matthew Hedberg reiterated a Sector Perform rating while lifting the price target from $19 to $24.
UiPath’s ARR growth showed "minimal deceleration” and revenue growth of 24% "accelerated nicely,” Hedberg said. "We think the efficiencies and ROI around automation continue to resonate with customers while the GTM changes over the last year are driving increased platform adoption,” he added.
"Momentum seems to be building into FY/25, which we believe could potentially show minimal deceleration,” the analyst further stated.
Mizuho Securities On UiPath
Analyst Siti Panigrahi reaffirmed a ...