UiPath, Inc. (PATH) came into the radar of retail traders after the company's shares climbed sharply on Wednesday and rose further in the after-hours session, riding on the momentum of artificial intelligence (AI). 

New York-based UiPath is an agentic automation company that helps enterprises deploy AI agents to execute and optimize complex business processes autonomously. UiPath stock settled Wednesday's session up 5.13% at $15.58, the highest closing level since May 2024, after some high-profile AI deals announced by mega-cap tech stocks and positive executive comments about the technology's evolution sent the market skyrocketing to a fresh record. The upside came along with nearly double the average volume. On an intraday basis, the stock rose to its highest level since Dec. 10, 2024.

UiPath ended the extended session up 7.19%, and data on Yahoo Finance shows the stock up as much as 11% in overnight trading. It managed to break out higher from a range in late September, after the company sealed several deals with major tech companies, including OpenAI, Microsoft, Alphabet's Google, and Nvidia. 

Source: Koyfin

The 14-day relative strength index (RSI) of the stock is currently at 76, suggesting it is in the overbought zone, posing the risk of a potential pullback.

On Stocktwits, retail sentiment toward UiPath stock moved further up into the 'extremely bullish' territory by late Wednesday, and the message volume also remained 'extremely high.'

A bullish user said they saw no letup in the rally.“$PATH This beast shows no signs of slowing down!” they said.

Another user called UiPath a $45 stock, suggesting the stock is undervalued at current levels.

But Wall Street firms do not concur with the view. According to Koyfin, the consensus price target for the stock is $13.44, implying about 14% downside from Wednesday's close. The stock is up nearly 23% year-to-date.

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