UiPath price target raised to $25 from $20 at Needham

Needham raised the firm’s price target on UiPath to $25 from $20 and keeps a Buy rating on the shares. The company’s Q3 results were “strong” highlighted by the first quarter of y/y net new ARR growth since Q4 of FY22, the analyst tells investors in a research note. The firm adds that customer metrics were stable, and UiPath’s recent emphasis on platform deals appears to be benefiting sales productivity, including a record number of above $1M ARR transactions recorded in Q3.