Why UiPath Rallied in December
Shares of automation software company UiPath (NYSE: PATH) rallied 18.3% in December, according to data from S&P Global Market Intelligence.
UiPath surprised investors with a better-than-expected earnings report early last month, which allowed the stock to gain even as many tech names struggled toward the end of the year. Then, toward the end of the month, UiPath was selected to be included in a major stock market index, further boosting sentiment.
In its fiscal third quarter, UiPath grew revenue by 15.9%, while adjusted (non-GAAP) earnings per share increased 45.4% to $0.16, with both metrics surpassing analysts' expectations.
Source Fool.com
