UiPath initiated with an Outperform at William Blair

William Blair initiated coverage of UiPath with an Outperform rating. The analyst believes the company is a leader in the work flow automation and process optimization markets. UiPath’s platform helps automate manual workflows through user interface and application programming interface-based automations, the analyst tells investors in a research note. The firm believes believes UiPath’s leadership position in a large market for automation technology should help the company deliver durable growth and expanding margins over the next few years.