UiPath Analysts Boost Their Forecasts Following Upbeat Q2 Results

UiPath Inc PATH reported better-than-expected second-quarter results.

UiPath posted quarterly earnings of nine cents per share which beat the analyst consensus estimate of three cents, a 550% increase over losses of two cents per share from the same period last year. The company reported quarterly sales of $287.00 million which beat the analyst consensus estimate of $282.14 million, an 18.49% increase over sales of $242.22 million in the same period last year.

UiPath said it sees third-quarter revenue to be between $313 million and $318 million, versus the $315.33 million estimate. Full-year 2024 revenue is anticipated to be between $1.273 billion and $1.278 billion, versus the $1.27 billion estimate.

UiPath shares gained 2% to $16.55 in pre-market trading.

These analysts made changes to their price targets on UiPath following earnings announcement.

• RBC Capital increased the price target on UiPath from $18 to $19. RBC Capital analyst Matthew Hedberg maintained a Sector Perform rating.
• BMO Capital boosted the price target on UiPath from $18 to $19. BMO Capital analyst Keith Bachman maintained a Market Perform rating.
• Needham analyst Scott Berg, meanwhile, reiterated UiPath with a Buy and maintained a $20 price target.

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