UiPath price target lowered to $20 from $25 at Truist

Truist analyst Terry Tillman lowered the firm’s price target on UiPath to $20 from $25 but keeps a Buy rating on the shares after the company announced preliminary Q3 results and a cost reduction program. UiPath’s early go-to-market transformation work, platform enhancements, pricing and packaging innovations and partnership developments all show positive signs of better optimizing sales and annual recurring revenue activity, the analyst tells investors in a research note. Tillman adds that his price target cut is due to modestly lower revenue owing to currency headwinds and difficult macro conditions.