UiPath price target lowered to $13 from $15 at DA Davidson

DA Davidson lowered the firm’s price target on UiPath (PATH) to $13 from $15 and keeps a Neutral rating on the shares. The company reported good Q4 results with a beat on annualized recurring revenue while providing a better than expected outlook, the analyst tells investors in a research note. DA Davidson adds, however, that the inorganic contribution from the acquisition of Work Fusion, FX tailwinds in the quarter, and guidance for limited operating margin expansion are the main reasons for the post-earnings decline in the stock.

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