UiPath price target raised to $18 from $17 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on UiPath to $18 from $17 and keeps a Sector Perform rating on the shares. The analyst has met with the company’s management, gaining a better understanding of the company’s strategy and areas of "investor misunderstanding", RBC tells investors in a research note. With UiPath focused on upselling the platform and overall growth opportunities, the firm sees long-term operating margin "likely above 20%", and its higher price target reflects its "higher conviction", RBC adds.