Why UiPath Stock Is Skyrocketing This Week
Shares of UiPath (NYSE: UI) were gaining this week in the wake of the delivery of its better-than-expected fourth-quarter report. The stock was up roughly 24% from the previous week's close at the end of Thursday's trading session, according to data from S&P Global Market Intelligence.
UiPath posted non-GAAP (adjusted) earnings of $0.15 per share on revenue of $308.5 million. The average analyst estimate had targeted earnings of $0.07 per share on sales of $278.69 million. In addition to delivering results that beat on both the top and bottom lines, management issued guidance that exceeded the market's expectations.
Despite macroeconomic pressures, UiPath managed to grow revenue by roughly 6.5% year over year in the fourth quarter, and it expects that growth to accelerate in Q1. It's guiding for sales of between $270 million and $272 million, which at the midpoint would amount to year-over-year growth of roughly 10.6%. The average analyst had been forecasting Q1 revenue of $269.55 million.
Source Fool.com
