UiPath price target raised to $15 from $14 at Mizuho

Mizuho analyst Siti Panigrahi raised the firm’s price target on UiPath to $15 from $14 and keeps a Neutral rating on the shares. The company delivered better than expected Q3 results and provided solid Q4 guidance despite macro concerns, currency headwinds and near-term disruption given its strategic repositioning, Panigrahi tells investors in a research note. While encouraged by the results, the analyst believes the reorganization’s focus on delivering profitability and the continued macro deterioration will pressure annual recurring revenue growth.