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
- 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
- UiPath Announces First Quarter Fiscal 2025 Financial Results Conference Call • Business Wire • 05/08/2024 08:10:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/06/2024 08:22:35 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/06/2024 08:21:43 PM
- UiPath Named a Leader in the 2024 Gartner® Magic Quadrant™ for Process Mining • Business Wire • 05/02/2024 03:00:00 PM
- UiPath Announces Raghu Malpani Joins Company as Chief Technology Officer • Business Wire • 05/01/2024 12:00:00 PM
- UiPath Named a Leader for Second Consecutive Year in the Everest Group Intelligent Document Processing (IDP) Products PEAK Matrix® Assessment 2024 • Business Wire • 04/08/2024 12:00:00 PM
- UiPath Announces Sebastian Schrötel Joins Product Leadership Team to Lead UiPath Autopilot™ and Developer Experiences • Business Wire • 04/01/2024 12:00:00 PM
- UiPath Announces FedRAMP® Authorization for Its Automation Cloud™ Public Sector • Business Wire • 03/26/2024 12:00:00 PM
- UiPath Unveils New Family of LLMs at AI Summit to Empower Enterprises to Harness Full Capabilities of GenAI • Business Wire • 03/19/2024 12:00:00 PM
- Fisker’s Shares Take a Hit Amid Speculation of Bankruptcy, Altria Divests from AB InBev to Fund Stock Repurchase Initiative • IH Market News • 03/14/2024 11:39:32 AM
- UiPath Reports Fourth Quarter and Full Year Fiscal 2024 Financial Results • Business Wire • 03/13/2024 08:10:00 PM
- Mixed Futures Amidst Quiet Economic Schedule; Oil Prices Climb • IH Market News • 03/13/2024 11:03:39 AM
- Saudi Arabia Ministry of Tourism Boosts Vision for Excellence and Sustainable Growth with UiPath AI and Automation • Business Wire • 03/06/2024 01:05:00 PM
- UiPath Announces Investments in Saudi Arabia, Including First Saudi School of Automation and New Office Location in Riyadh • Business Wire • 03/04/2024 08:00:00 AM
- UiPath and Google Cloud Expand Strategic Partnership to Accelerate Access to Gen AI and Cloud-based Automation • Business Wire • 02/29/2024 01:00:00 PM
- UiPath to Exhibit AI-powered Automation Solutions for Healthcare Industry at ViVE 2024 Conference • Business Wire • 02/22/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/21/2024 01:03:36 AM
- UiPath Announces New Developer Features at DevCon 2024 to Bring Latest in AI-powered Productivity to Developer Community • Business Wire • 02/16/2024 03:30:00 AM
- UiPath and Deloitte Collaborate to Introduce Turnkey Automation Offering for Growth Companies • PR Newswire (US) • 02/15/2024 09:30:00 PM
- UiPath Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results Conference Call • Business Wire • 02/14/2024 09:10:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/07/2024 10:25:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 10:33:11 PM
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