UiPath price target raised to $20 from $17 at DA Davidson

DA Davidson raised the firm’s price target on UiPath to $20 from $17 and keeps a Neutral rating on the shares. The company’s Q3 earnings beat demonstrated strong adoption amongst its focus enterprise cohort, driving re-acceleration of subscription and cRPO growth, the analyst tells investors in a research note. UiPath strategic bet on driving value for big clients with the longest/broadest automation journeys is paying off, the firm adds, even though it sees “more work remaining”.