Needham Reiterates Hold Rating on UiPath Inc. (PATH)

Needham analyst Scott Berg reiterated a Hold rating on UiPath Inc. (NYSE: PATH).

The analyst commented: "We reiterate our Hold rating after speaking with the RPA Practice Head at an internationally-focused UiPath implementation partner. Our expert is seeing gradual demand improvements including solid usage of newer products such as task mining and process discovery among mature customers. Our partner check highlighted Africa and Middle East demand increases but no real change to the Americas or Europe. Our partner is seeing new Gen AI functionality as complementary to RPA vendors and not a replacement thereof. New customers are primarily choosing the Cloud offering but our expert has seen limited conversions and notes on-prem remains an option for new users. Our expert works with a variety of RPA vendors but he believes PATH and Automation Anywhere are the best overall solutions in the RPA market with PATH offering the most robust software."

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 $12.97 yesterday.

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