| Issuer: | | UiPath, Inc. (PATH) |
| Coverage Analysts: | |
Raimo Lenschow, CFA - Primary Analyst |
| Current Stock Rating/Industry View: | | Equal Weight/Positive
|
Disclosures applicable to this issuer:
Important Research Disclosures:
Valuation Methodology: Our $14 price target is based on ~14x EV / CY27E FCF of $482mn.
Risks which May Impede the Achievement of the Barclays Research Price Target: UiPath plays in a rapidly evolving market which has seen increased interest from mega-cap vendors such as Microsoft, SAP and Salesforce. Additionally, low-code/bpm providers like Appian and digital workflow providers such as ServiceNow have interest in the automation space. These companies have a greater ability to invest than UiPath, and could cause pricing and growth headwinds to the company if they choose to expand into the space, either organically or more likely through acquisitions.
Price Chart:
Source: IDC, Barclays Research
UiPath, Inc.
Currency=USD
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