UiPath gains on upbeat forecast, Q2 beat

UiPath

07/09/2023 09:51

** Shares of automation software company UiPath  PATH.N 
rise 4.2% to $16.9 premarket
    ** Co forecasts FY24 revenue between $1.27-$1.28 bln vs ests
of $1.27 bln - LSEG 
    ** Sees Q3 revenue of $313-$318 mln, compared with ests of
$316.2 mln 
    ** Reports Q2 sales of $287.3 mln, beating analysts' ests of
$282.1 mln; adj. EPS of 9 cents tops ests of 3 cents  
    ** Co also announces $500 mln stock buyback program
    ** Nine of 22 brokerages rate the stock "buy" or higher, 13
"hold"; their median PT is $19
    ** Up to Wednesday's close, stock had risen 27.6% YTD

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))