gorodenkoff
UiPath (NYSE:PATH) shares reversed course and fell 7% in mid-day trading on Thursday even as the company received praise from sell-side analysts after it reported its first period of GAAP profitability as a public company.
“UiPath reported impressive Q4 results with top and bottom line beats driven by accelerating deal flow and strong platform sales,” said Needham analyst Scott Berg in a note. “The company’s partnerships with SAP (SAP), Google (GOOG) (GOOGL), Microsoft (MSFT), and Deloitte continue to take hold and driving deal flow improvements.”
Meanwhile, Mizuho analyst Siti Panigrahi reiterated its Neutral rating and raised its price target on the stock to $25 from $22, as he was “encouraged by management’s commentary around key customer wins, improving enterprise traction with GSI partnerships, and the AI opportunity.”
During the quarter-ended Jan. 31, 2024, UiPath earned $0.23 per share on $405M in revenue, which was a 31% increase year-over-year. The figures surpassed the analysts consensus of earning $0.16 per share on $383.69M in revenue.
Looking ahead, UiPath expects to generate $330M to $335M in revenue during the first quarter of fiscal year 2025 compared to the analysts estimate of $338M.
For the full year, the New York City-based company eyes revenue ranging from $1.555B to $1.56B, which was more than the consensus of $1.53B.