UiPath (PATH) Stock Bounces as Citi Sees Opportunity in the Selloff
TLDR
- Citi initiated coverage on UiPath (PATH) with a Buy rating and $23 price target
- PATH dropped 16% last week, its worst week in over four months
- Bank of America raised its price target to $15 but kept an Underperform rating
- Truist lifted its target to $17 and TD Cowen raised to $16, both maintaining Hold ratings
- Q2 revenue rose 13% to $410.26 million, beating estimates of $397.8 million
UiPath (PATH) got a vote of confidence from Citi on Tuesday, with the bank initiating coverage at Buy and setting a $23 price target. That follows a rough week for the stock, which fell 16% last week, its steepest drop in more than four months.
The stock edged 0.2% higher in Tuesdayโs premarket. It is currently trading at a premium to peers, according to Zacks, which gives it a D on its Value Style Score.
Citi analyst Yitchuin Wang said the post-earnings selloff creates an attractive entry point. Wangโs view is that enterprise AI will require orchestration across agents, models, humans, APIs, and robots, with automation staying critical for governance and compliance.
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