UiPath price target raised to $19 from $16 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on UiPath (PATH) to $19 from $16 and keeps a Sector Perform rating on the shares. The company reported a “solid” Q3 print, and while execution will be key, RBC came away feeling better about the potential for a continuation of recent trends that produced net new annual recurring revenue stabilization and better profitability, the analyst tells investors in a research note. If recent stable business trends can continue, the stock has the potential to move higher, RBC added.