UiPath, Inc

Company Overview:  UiPath, Inc. is focused on building and managing automations and developing computer vision technology. It provides its customers with a set of capabilities that allows them to discover opportunities for automation, automate using a digital workforce that collaborates with humans, and operate an automation program at scale.

As per our previous daily report published on PATH on 31st May 2023, Kalkine provided a ‘Buy’ stance on the stock at USD 16.47 based on ‘price-action and technical indicators and the stock price has now moved by ~18.76% since then and the price has attained the Resistance 1 and Resistance 2 levels highlighted in the previous report. 

Noted below are the details of support and resistance levels provided in our previous report:

PATH’s Daily Chart

Considering the resistance around the current trading levels, target level attainment, price above resistance 1 and 2, risks associated, and volatile market conditions on the back of rising interest rates and recession fear a ‘Sell’ rating is assigned to the “PATH” at the current market price of USD 19.56 (as of 07^th June 2023, at 06:43 AM PST).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 07^th June 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’