Oppenheimer analyst Brian Schwartz downgraded UiPath to Perform from Outperform without a price target. The analyst believes the macro environment, competitive and internal pressures on improving UiPath’s business, and slow adoption as an enterprise-wide platform will continue to weigh on near-term fundamentals and sentiment. Additionally, the company’s Q3 results are “unlikely to provide enough clarity on the business improvement outlook over the next several quarters to be a positive catalyst,” Schwartz tells investors in a research note. As such, he believes UiPath shares will continue to trade at a discount to its software company peers.
previous post