UiPath Inc. (PATH) PT Lowered to $80 at Cowen

Cowen analyst Bryan Bergin lowered the price target on UiPath Inc. (NYSE: PATH) to $80.00 (from $84.00) while maintaining an Outperform rating.

The analyst commented, "2Q reflected continued demand strength w/ ARR +60% y/y on robust 144% net retention. PATH upped 2H ARR outlook above consensus and continues to invest aggressively. A high bar of expectations paired w/ rev rec noise in billings & volatile new logo iARR apt to pressure shares. However, sustainability of outsized growth via PATH's leading position in a massive TAM is attractive, in our view. PT $80."

You May Also Be Interested In

• Macquarie Double Upgrades Kinsus Interconnect Technology Corp (3189:TT) to Outperform
• PT Telekomunikasi Indonesia Tbk (TLKM:IJ) (TLKMF) PT Lowered to IDR2,900 at Macquarie
• Hanwha Aerospace (012450:KS) PT Lowered to KRW1,600,000 at Macquarie