Overview
- RBC’s Matthew Hedberg lifted the price target to $19 from $16 following post‑Q3 investor meetings and kept a Sector Perform rating.
- The note followed what RBC called a solid Q3, with the firm saying the operating model looks steadier than a quarter ago.
- RBC highlighted stabilization in net‑new annual recurring revenue and improvement in profitability metrics as reasons for greater confidence.
- DA Davidson earlier raised its target to $15 from $12 with a Neutral rating, pointing to a larger‑than‑typical ARR beat and a better‑than‑expected guide.
- Both firms stopped short of upgrades as they watch for multi‑quarter consistency and assess UiPath’s positioning in an increasingly agentic AI market.