NEW YORK, July 14, 2026, 11:08 (EDT)
- UiPath stock was up 1.1% to $11.98 after dropping as much as 5.7% earlier. That’s a 7.3% bounce off the session low.
- Pegasystems NASDAQ:PEGA stayed off 0.9%, and Appian NASDAQ:APPN slipped 1.7%. IBM NYSE:IBM was down roughly 25%.
- UiPath said its last reported average buyback price was $11.47, which is about 4% under where shares finished on Tuesday. Cash and securities add up to nearly 22% of its market cap.
UiPath bounced from a 5.7% morning drop and was up 1.1% at $11.98 at 10:53 a.m. EDT Tuesday, a 7.3% swing from session lows. The company’s investor-relations page listed no new updates since June 16. That left valuation and capital returns as the only clear catalysts. The move came without any new announcement.
IBM NYSE:IBM shares dropped 25.2% after the company said customers had shifted their quarterly spending toward servers, storage, and memory, instead of software. That rattled the sector, with investors worried the AI infrastructure push might be eating into traditional software budgets. “How long the shift to infrastructure and cybersecurity lasts” is now the question, said Chris Beauchamp, chief market analyst at IG Group. Budget competition is front and center for the sector. Reuters
UiPath came back more than the two workflow-software names listed below, and topped the bounce in the iShares Expanded Tech-Software Sector ETF (NYSEARCA:IGV). That doesn’t mean customers are buying more, but investors gave software stocks different treatment.
Intraday moves
| Security | Price | Day move | Low versus previous close | Rebound from low |
|---|---|---|---|---|
| UiPath NYSE:PATH | $11.98 | up 1.1% | down 5.7% | up 7.3% |
| Pegasystems NASDAQ:PEGA | $31.64 | off 0.9% | down 5.4% | up 4.7% |
| Appian NASDAQ:APPN | $25.62 | fell 1.7% | down 5.5% | up 4.0% |
| iShares software ETF (NYSEARCA:IGV) | $93.77 | rose 1.2% | down 4.5% | gained 5.9% |
Prices as of about 10:53 a.m. EDT. Percentage rebounds based on reported intraday lows and prior closing prices.
Based on Tuesday’s $6.32 billion market value, taking out UiPath’s $1.42 billion in cash and marketable securities puts its cash-adjusted value near $4.91 billion. That comes to about 2.8x the midpoint of its fiscal-2027 revenue outlook of $1.776 billion to $1.781 billion. Cash is more than 20% of the equity value. That’s a show-me valuation.
The stock is now near levels where UiPath has been buying. UiPath picked up 20.4 million shares in the April quarter for an average $11.47, and bought another 2.4 million shares through May 15 at $9.63. That leaves about $414 million on its current buyback plan, or roughly 6.5% of the company’s market value as of Tuesday, if there have been no more purchases since. The company already spent cash to buy around these prices.
UiPath valuation, capital return figures
| Measure | Figure | Investor read-through |
|---|---|---|
| Current share price | $11.98 | Now trading about 4.4% higher than the Q1 buyback average |
| Q1 average repurchase price | $11.47 | 20.4 million shares repurchased during the quarter |
| Cash and marketable securities | $1.42 billion | That’s roughly 22% of the company’s current value |
| Market cap less cash and securities | $4.91 billion | Sits at about 2.8x the 2027 revenue midpoint |
| Estimated authorization remaining at May 15 | About $414 million | Near 6.5% of the latest market cap |
This estimate for remaining authorization knocks off the May 1–15 disclosed buys from what was left as of April 30; any repurchases after that aren’t included yet.
UiPath is getting more than a lift from financial engineering. First-quarter revenue climbed 17% to $418.4 million. Annualized renewal run-rate, or ARR, was up 12% to $1.901 billion. Net retention came in at 109%, so existing customers spent about 9% more even after cuts and attrition. About 80% of revenue growth came from those accounts already in place. CEO Daniel Dines said its agentic products are “moving from pilot to production.” The current user base remains the main source of business. UiPath, Inc.
Profit was up, but the numbers need a look. UiPath posted GAAP operating income of $28 million after showing a $16.4 million loss last year. Operating cash flow was $131.9 million. Chief Financial Officer Ashim Gupta called it “first quarter GAAP profitability for the first time in company history.” Still, stock-based compensation was $53.3 million, more than double the quarter’s $22.5 million net income. Equity pay is still a real factor. UiPath, Inc.
UiPath’s growth outlook is getting tighter. Second-quarter ARR guidance at $1.929 billion to $1.934 billion means net new ARR could come in near $30 million at the midpoint, down about 38% from the first quarter’s $49 million gain. Revenue guidance of $395 million to $400 million also misses last quarter’s numbers. The Street wants to see a pickup, but management’s forecast doesn’t show one yet.
The buyback is optional and can stop at any time, so $11.47 isn’t a sure bottom. If IBM’s caution points to weaker spending from big clients, UiPath could see customers hold off on automation projects while sticking with current subscriptions. UiPath already noted macro issues hitting demand. A higher valuation won’t make up for soft new deals. The floor isn’t fixed.
Tuesday’s story is tight: some traders bought the recent software pullback tied to IBM, right in UiPath’s stated buyback band, but there’s no fresh company news here. Investors need to see July results, especially to check if net new ARR can stay solid as AI picks up a bigger share of budgets. The Street wants evidence.
