UiPath downgraded to Neutral from Outperform at Macquarie

Macquarie analyst Frederick Havemeyer downgraded UiPath to Neutral from Outperform with a price target of $12, down from $29. The company’s Q1 results were in line with expectations but it cut its full-year guidance due to large, multi-year deal headwinds, the analyst tells investors in a research note. The firm sees no clear near-term path for UiPath to re-accelerate growth.