New York, June 10, 2026, 12:48 EDT
- UiPath was up about 1% at $10.87 late Wednesday morning. The stock fell 3.76% on Tuesday.
- ARR is the main area weighing on the stock—UiPath’s annualized renewal run-rate—rather than top-line revenue.
- Analysts are keeping a cautious tone. Recent remarks have zeroed in on the question of whether AI-based deals can really drive lasting ARR acceleration.
UiPath Inc. shares ticked up Wednesday morning, recovering a bit after Tuesday’s drop, but the move did little to settle the big question hanging over PATH: whether its agentic AI automation efforts will translate into quicker recurring growth. The stock last traded at $10.865, up 11.5 cents, after moving between $10.34 and $10.92 earlier in the session. PATH had closed at $10.75 Tuesday, off 3.76%.
There was no new company announcement in the past day. UiPath’s investor-relations site still showed its June 4 One NZ customer news at the top, then a June 3 Dubai security certification update. Investors kept looking back at the May 28 earnings report and this week’s analyst notes.
The stock is acting like a “show me” software name. UiPath’s numbers for the fiscal first quarter weren’t soft: revenue was up 17% from a year ago to $418 million. ARR climbed 12% to $1.901 billion. GAAP operating income came in at $28 million. Non-GAAP operating income hit $92 million. UiPath defines ARR, or Annualized Renewal Run-rate, as its annualized invoiced subscription and maintenance run-rate, and says it’s not the same as future revenue. UiPath, Inc.
UiPath’s Q2 guide is where investors seem to be focusing. The company put revenue for the fiscal second quarter at $395 million to $400 million, and is targeting ARR of $1.929 billion to $1.934 billion at the end of July. That midpoint calls for about $30.5 million in new ARR, which is lighter than the $49 million net new ARR reported in Q1.
Management wants to move investors’ focus off traditional robotic process automation—automating routine office tasks with bots—and onto agentic automation, which uses AI agents, bots, software and people together in a workflow. Daniel Dines, UiPath founder and CEO, said in the earnings release that agentic products are now “from pilot to production.” He connected the launch of UiPath for Coding Agents to stronger enterprise platform adoption. UiPath, Inc.
Some bullish signs are there. Chief Operating and Financial Officer Ashim Gupta said UiPath posted “first quarter GAAP profitability for the first time.” The June 4 10-Q showed the company bought back 20.4 million shares during the quarter at an average $11.47, with 2.4 million more between May 1 and May 15 at an average $9.63. In March, the board cleared a new $500 million buyback plan. UiPath, Inc.
Wall Street wants more evidence from UiPath. Insider Monkey said Tuesday that BMO Capital cut its price target on UiPath to $13 from $14 on June 1, keeping its Market Perform call. BMO pointed to a solid start to fiscal 2027 but said net new ARR was just under consensus when adjusted for currency. BofA, meanwhile, lifted its UiPath target to $13 from $12 on May 29 while sticking with an Underperform. BofA is waiting for clearer signs of steady ARR growth, Insider Monkey added.
Analyst sentiment on PATH is more cautious than bearish. Data from Google Finance lists 17 analysts tracking the stock over the last three months. The group settles on a Hold, with just two Buys, 14 Hold calls and one Sell. The average 12-month target is $13.31, which comes in above where PATH trades now, but isn’t convincing enough to signal that analysts see the AI shift as already priced in.
UiPath is still near the bottom of its recent range, with Google Finance showing a 52-week low at $9.20 and a high of $19.84. Shares traded near $10.86 Wednesday. The wide gap shows why investors are still split even after the earnings report; one side points to a lower valuation, the other to ARR growth that hasn’t met hopes.
AI buzz could outrun what customers are willing to pay. UiPath’s latest 10-Q says ARR can swing on things like customer satisfaction, pricing, rivals, the economy, spending, acquisitions, and meeting goals. The filing also points to competition from both old and new players, dependence on cloud and large language model vendors, FX swings, and wider macro risk.
July-quarter guidance is the next hurdle for UiPath. Investors want to see if the company can get to the $1.929 billion to $1.934 billion ARR range and prove coding agents and agentic workflows are moving the needle, not just generating hype. Modest net new ARR again would leave PATH’s recovery looking shaky.
