Morgan Stanley raised the firm’s price target on UiPath to $25 from $17 and keeps an Equal Weight rating on the shares after the company reported a “strong” 6% revenue and 22% year-over-year annual recurring revenue, or ARR, growth that came in ahead of expectations. While the firm notes “sharper execution” in FY24, it is still waiting for a break out in net new ARR, leaving it on the sidelines.
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