UiPath price target raised to $19 from $18 at BMO Capital

BMO Capital raised the firm’s price target on UiPath (PATH) to $19 from $18 but keeps a Market Perform rating on the shares after its Q2 earnings beat and guidance raise. The company’s margin performance and guidance was particularly strong, and its annual recurring revenue guidance appears “achievable and conservative”, the analyst tells investors in a research note. BMO warns however that the issues of the longer-term impact of GenAI and competition from Microsoft (MSFT) will remain outstanding, noting that UiPath shares will “likewise remain range bound”.