RBC Capital lowered the firm’s price target on UiPath to $19 from $24 and keeps a Sector Perform rating on the shares. The company’s Q1 results were “disappointing”, with macro, execution, and leadership transition driving a sizable guide-down across the board, the analyst tells investors in a research note. The execution issues and the unexpected CEO transition will take time to work through, though the firm will look for improved execution in a variable macro backdrop, RBC adds.
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