UiPath price target lowered to $12 from $14 at Mizuho

Mizuho lowered the firm’s price target on UiPath (PATH) to $12 from $14 and keeps a Neutral rating on the shares. The company’s fiscal Q4 revenue was slightly below consensus expectations as management pointed to a $2M currency headwind as well as headwinds in the public sector, the analyst tells investors in a research note. The firm believes UiPath “is moving in the right direction,” but says many investors are still concerned about the structural longer-term demand for robotic process automation given the disruption risk.