Blue Prism share price: what’s the latest ahead of its full-year results?
The robotic process automation specialist unveils its annual results next week and while investors are likely disappointed about the stock’s recent run its long-term prospects remain promising.
Blue Prism will release its full-year (FY) results next Thursday, with investors likely disappointed by the stock’s recent run, with it falling 21% since mid-September and down 45% on a year-to-date (YTD) basis.
But the robotic process automation (RPA) specialist has delivered strong returns for long-term investors, with the stock up by almost 200% over the last three years and the company is well positioned in the RPA market for further growth.
Analysts optimistic about Blue Prism’s share price
Analysts are upbeat about Blue Prism's share price trajectory, with the average 12-month target price for the stock sitting at £17.95 a share.
Based on the company’s stock closing at £8.68 on Thursday, analysts believe the stock has a potential upside of 106%.
Thoughtonomy deal key to sales growth
Blue Prism has invested heavily in organic and inorganic growth, with the RPA specialist acquiring Thoughtonomy earlier this year in a deal valued at around $100 million.
The acquisition joins the power of Blue Prism’s connected-RPA platform with Thoughtonomy’s SaaS capabilities, allowing customers to accelerate automation projects more easily to drive improved productivity and customer experiences, without needing to set up a dedicated infrastructure to support their program.
The deal is an important step in Blue Prism being able to target mid-tier enterprises which will help revenue growth and assist the stock in making further gains.
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