RBC Capital raised the firm’s price target on UiPath to $29 from $27 and keeps a Sector Perform rating on the shares. The company’s Q4 results were “strong” and highlighted by annual recurring revenue growth of 22% for the quarter and 31% for the year as the efficiencies and ROI around AI and automation increasingly appear to be resonating with customers, the analyst tells investors in a research note. RBC adds that UiPath’s initial FY25 guidance was slightly ahead and should provide an opportunity for estimates to build through the year.
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