RBC Capital analysts provided their outlook on UiPath Inc. (NYSE:PATH) ahead of the company’s Q1/23 earnings announcement, expecting a slight upside to the consensus ARR at $965 million, up 48% year-over-year, and revenue/EPS at $225 million/($0.06) or 21% year-over-year revenue growth.

Management noted large deal of uncertainty and potential sales disruptions along with macro headwinds from Russia and FX last quarter, which resulted in a lower-than-expected full 2023 ARR guide.

That said, the analysts remain optimistic about the long-term automation opportunity and look for additional details around the demand environment, the product pipeline and hearing from their new co-CEO.

The analysts lowered their price target on the company’s shares to $27 from $32 on peer multiple compression, while maintaining their sector perform rating.