Jim Cramer Says He Cannot Recommend UiPath

UiPath Inc. (NYSE:PATH) is one of the stocks Jim Cramer commented on. During the lightning round, when a caller inquired about the stock, Cramer remarked:

“I’ll tell you the truth… It just had such a big move. I can’t recommend it. It just, just soared. It’s not for me.”

A stock market data. Photo by Alesia Kozik on Pexels

UiPath Inc. (NYSE:PATH) provides an automation platform that uses robotic process automation and AI to help organizations automate repetitive tasks. On October 2, BMO Capital analyst Keith Bachman raised UiPath’s stock price target from $12.50 to $13 while maintaining a Market Perform rating. The analyst noted the company’s announcement of new products and partnerships but warned that the competitive market may delay the impact of these investments on revenue growth. Additionally, on October 8, Barclays reiterated a Hold rating on the company’s stock with a price target of $14.

While we acknowledge the risk and potential of PATH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PATH and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.