These Analysts Slash Their Forecasts On UiPath Following Q1 Results

UiPath, Inc. PATH reported better-than-expected first-quarter financial results and announced a chief executive officer transition on Wednesday.

UiPath reported quarterly earnings of 13 cents per share, which beat the analyst consensus estimate of 12 cents. Quarterly sales came in at $335 million, which beat the analyst consensus estimate of $333.04 million and represents a 15.68% increase over sales of $289.59 million from the same period last year, according to data from Benzinga Pro.

 "We are pleased to report that ARR surpassed $1.5 billion in the first quarter of fiscal 2025, a testament to our market-leading Business Automation Platform and the strategic role automation plays in digital transformation," said Daniel Dines, UiPath founder and chief innovation officer.

The company also announced Rob Enslin will resign as CEO and as a member of the UiPath board of directors, effective June 1, 2024. Daniel Dines, founder and former CEO of UiPath, will be reappointed CEO, also effective June 1, 2024.

For the second quarter, UiPath said it sees second-quarter revenue in the range of $300 million to $305 million and fiscal year 2025 revenue in a range of $1.405 billion and $1.41 billion.

UiPath shares fell 2.4% to close at $18.30 on Wednesday.

These analysts made changes to their price targets on UiPath after the company reported quarterly results.

• TD Cowen slashed the price target on UiPath from $28 to $17. TD Cowen analyst Bryan Bergin downgraded the stock from Buy to Hold.
• B of A Securities cut UiPath price target from $30 to $16. B of A Securities analyst Brad Sills downgraded the stock from Buy to Neutral.
• Needham analyst Scott Berg, meanwhile, downgraded UiPath from Buy to Hold.

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