Here's Why UiPath Stock Is Getting Battered Today
Shares of UiPath (NYSE: PATH), an enterprise automation company, are losing ground following the company's fiscal fourth-quarter earnings call. The stock is down 24.2% as of 11:19 a.m. ET on Thursday.
During the three months ended Jan. 31, 2022, UiPath reported revenue that rose 39% year over year to $289.7 million. The company beat expectations on the bottom line with $0.05 per share in adjusted earnings. The average analyst following UiPath was expecting just $0.03 per share.
Despite a solid fiscal fourth quarter, investment banks up and down Wall Street were quick to cut their price targets on UiPath in response to weaker-than-expected forward guidance. In the fiscal first quarter, the company expects revenue to land in a range between $223 million and $225 million. The average analyst was expecting the company to forecast $236 million.
Source Fool.com
