UiPath Inc (NYSE:PATH) is trading significantly lower Thursday morning after the company reported financial results and issued guidance below analyst estimates.
UiPath said fourth-quarter revenue increased 39% year-over-year to $289.7 million, which beat the $283.57 million estimate. The company reported quarterly adjusted earnings of 5 cents per share, which beat the estimate of 3 cents per share.
UiPath expects first-quarter revenue to be between $223 million and $225 million versus the $243 million estimate. The company expects to report an adjusted operating loss of $25 million to $30 million.
Analyst Assessment: Several analysts lowered price targets on the stock following UiPath's quarterly results.
- Credit Suisse analyst Phil Winslow maintained UiPath with an Outperform rating and lowered the price target from $75 to $57.50.
- RBC Capital analyst Matthew Hedberg maintained UiPath with a Sector Perform rating and lowered the price target from $37 to $32.
- Wells Fargo analyst Michael Turrin maintained UiPath with an Overweight rating and lowered the price target from $45 to $35.
- BMO Capital analyst Keith Bachman maintained UiPath with a Market Perform rating and lowered the price target from $52 to $29.
- Oppenheimer analyst Brian Schwartz maintained UiPath with an Outperform rating and lowered the price target from $56 to $35.
- Mizuho analyst Siti Panigrahi maintained UiPath with a Buy rating and lowered the price target from $70 to $40.
PATH 52-Week Range: $23.93 - $90.00
The stock was down 18.5% at $23.66 at time of publication, according to data from Benzinga Pro.
Photo: courtesy of UiPath.
