Thursday, December 09, 2021 3:50:02 PM
UiPath Tops Earnings and Sales Expectations. The Stock Falls.
Shares of UiPath fell Thursday after the robotic-process automation software company posted fiscal third-quarter results that were better than Wall Street expectations.
The stock dropped 1.6% to $46.93 after UiPath (ticker: PATH) reported adjusted earnings at break-even on a per-share basis on revenue of $220.8 million, up from year-earlier revenue of $147.3 million. The company’s annualized renewal run rate, or ARR, was $818.4 million, up 58%.
Analysts were expecting UiPath to report a loss of 4 cents a share on sales of $208.3 million and ARR of $798 million.
The net loss in the third quarter was $122.8 million, or 23 cents a share, compared with a year-earlier loss of $70.8 million, or 41 cents.
UiPath said it expects fourth-quarter revenue of $281 million to $283 million and ARR of $901 million to $903 million. Analysts are looking for fourth-quarter revenue of $281.5 million and ARR of $880 million.
Analysts at Oppenheimer maintained their Perform rating on UiPath shares, saying that while the company posted “robust backlog growth, and healthy operating margin improvements,” the “positives are somewhat offset by signs of the business decelerating and less optimistic ARR guidance, which implies further growth moderation.”
RBC Capital Markets maintained its Sector Perform rating and $55 price target. “Overall, we believe UiPath remains well-positioned as a long-term strategic enterprise automation vendor,” the analysts wrote in a research note.
KeyBanc analysts also said they see UiPath as the leading independent enterprise automation vendor. They reiterated their Overweight rating but lowered the price target to $69 from $86 “given higher interest rate/lower valuation environment.”
UiPath went public in April with an initial public offering price of $56 a share. The stock has fallen 12% over the past three months.
Recent PATH News
- UiPath Announces New Platform Features to Enable Organizations to Build Better, Faster, and More Comprehensive Automations with UiPath Autopilot™ and GenAI • Business Wire • 07/02/2024 12:00:00 PM
- Investors who lost money on UiPath, Inc.(PATH) should contact The Gross Law Firm about pending Class Action - PATH • PR Newswire (US) • 06/28/2024 09:45:00 AM
- UiPath Issues Fiscal Year 2024 Impact Report • Business Wire • 06/20/2024 12:00:00 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 06/14/2024 08:24:40 PM
- UiPath Named a Leader in Everest Group’s Process Mining Products PEAK Matrix® Assessment 2024 • Business Wire • 06/13/2024 12:00:00 PM
- New Global Survey Finds Enterprises Lack Direction and Training for Workers on the Use of GenAI Tools • Business Wire • 06/11/2024 12:00:00 PM
- UiPath to Participate in the Mizuho Technology Conference 2024 • Business Wire • 06/10/2024 08:10:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/03/2024 09:28:16 PM
- UiPath to Participate in the William Blair 44th Annual Growth Stock Conference • Business Wire • 05/30/2024 08:10:00 PM
- Kohl’s, UiPath Shares Down, Foot Locker and Okta Should Rise • IH Market News • 05/30/2024 01:13:06 PM
- UiPath Named a Leader in Document Mining and Analytics Platforms by Independent Research Firm • Business Wire • 05/30/2024 12:00:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/29/2024 08:33:13 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/29/2024 08:25:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/29/2024 08:18:37 PM
- UiPath to Re-Appoint Daniel Dines as Chief Executive Officer; Rob Enslin Steps Down as CEO and Board Member • Business Wire • 05/29/2024 08:10:00 PM
- UiPath Reports First Quarter Fiscal 2025 Financial Results • Business Wire • 05/29/2024 08:10:00 PM
- UiPath Named a Leader in IDC MarketScape: Worldwide Unstructured Intelligent Document Processing Software 2024 Vendor Assessment • Business Wire • 05/29/2024 12:00:00 PM
- US Index Futures Drop Amid Rising Treasury Yields and Inflation Concerns, Oil Prices Increase • IH Market News • 05/29/2024 11:28:38 AM
- Fujitsu Scales Automation Enterprise-Wide with UiPath to Meet Digital Transformation Goals • Business Wire • 05/22/2024 12:00:00 PM
- UiPath Integrates with Microsoft Copilot for Microsoft 365 • Business Wire • 05/21/2024 07:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:05:25 PM
- UiPath Kicks Off Annual AI25 Awards to Recognize the Most Innovative Uses of AI and Business Automation • Business Wire • 05/14/2024 12:30:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/09/2024 09:06:32 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 05/09/2024 09:00:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 11:48:39 PM
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