NEW YORK, July 2, 2026, 07:08 EDT
- UiPath Inc. NYSE:PATH hovered around $11.55 in premarket trading after climbing about 6% on Wednesday.
- Full-year ARR guidance points to a bigger Q3 and Q4 ramp following the July-quarter ARR outlook.
- PATH’s cash and securities put it close to 2.5x April ARR on a cash-net market value basis.
UiPath Inc. NYSE:PATH traded at about $11.55 ahead of Thursday’s open. That’s near MarketBeat’s $11.60 extended-hours quote from 6:31 a.m. EDT. Shares climbed 6.1% in the regular session Wednesday. The NYSE hadn’t started core hours yet; official trading goes from 9:30 a.m. to 4 p.m. Eastern, with Friday, July 3, set as the Independence Day observed holiday.
The bigger challenge for investors isn’t the first-day stock reaction. It’s the renewal math. UiPath’s Q1 report put ARR at $1.901 billion as of April 30. Net new ARR for Q1 totaled $49 million. The company guided for July-quarter ARR between $1.929 billion and $1.934 billion, and sees fiscal 2027 ARR coming in between $2.058 billion and $2.063 billion. CEO Daniel Dines said the quarter was a “strong start,” pointing to agentic products shifting from pilot to production. Operating chief and CFO Ashim Gupta pointed to “operational discipline,” adding UiPath posted its first-ever GAAP profit for the first quarter. UiPath, Inc.
| UiPath ARR bridge | Value |
|---|---|
| ARR as of April 30 | $1.901 bln |
| Midpoint ARR forecast for July 31 | $1.9315 bln |
| Implied net new ARR for Q2 | $30.5 mln |
| Midpoint ARR guide for Jan. 31 | $2.0605 bln |
| Net new ARR required after July 31 forecast | $129.0 mln |
| Needed average for Q3 and Q4 | $64.5 mln per quarter |
| Q1 net new ARR | $49.0 mln |
Why it matters: UiPath’s outlook backloads growth. To reach its full-year midpoint after the July quarter, UiPath has to deliver average net new ARR that’s about 32% higher per quarter than the $49 million it posted in Q1.
UiPath traded at a market cap of $6.10 billion around $11.55 a share. The company reported $1.42 billion in cash and equivalents as of April 30, so net of that cash, its market value was roughly $4.68 billion. The numbers put UiPath at about 3.2x April ARR on the full market cap, or 2.5x on the net figure.
| Valuation screen | Calculation | Result |
|---|---|---|
| Market cap over April ARR | $6.10 bln divided by $1.901 bln | 3.2x |
| Market cap minus cash and securities over April ARR | $4.68 bln divided by $1.901 bln | 2.5x |
| Market cap over midpoint of FY revenue outlook | $6.10 bln divided by $1.7785 bln | 3.4x |
| Market cap minus cash and securities over FY non-GAAP operating income guidance | $4.68 bln over $430 mln | 10.9x |
UiPath climbed on software strength. Guggenheim’s John DiFucci raised ratings on ServiceNow Inc. NYSE:NOW and Salesforce Inc. NYSE:CRM to buy, telling MarketWatch that worries over AI were overdone. Recent data had the iShares Expanded Tech-Software Sector ETF (BATS:IGV) up 3.1%. The Invesco QQQ Trust NASDAQ:QQQ fell 1.5%.
| Security | Latest print | Move vs prior close |
|---|---|---|
| UiPath Inc. NYSE:PATH | $11.55 | up 6.0% |
| Pegasystems Inc. NASDAQ:PEGA | $31.09 | gained 3.8% |
| ServiceNow Inc. NYSE:NOW | $105.80 | added 6.6% |
| Microsoft Corp. NASDAQ:MSFT | $384.28 | rose 3.0% |
| iShares Expanded Tech-Software Sector ETF (BATS:IGV) | $93.34 | up 3.1% |
| Invesco QQQ Trust NASDAQ:QQQ | $725.17 | fell 1.5% |
| SPDR S&P 500 ETF Trust NYSEARCA:SPY | $745.76 | down 0.1% |
Analysts are holding back on the recovery in the sector. According to Benzinga’s PATH analyst page, the consensus rating is Neutral with a consensus price target at $14.43. The highest analyst target is $18 and the lowest is $12. UBS Group AG NYSE:UBS analyst Radi Sultan lowered his target to $12 from $13 on June 29, sticking with a Neutral. That’s the most recent price target move listed.
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