UiPath Inc. (NYSE: PATH), the enterprise automation and “agentic AI” specialist, has just staged one of the sharpest rebounds in large-cap software this year. After a blowout third quarter, a flurry of artificial intelligence partnerships, and a high‑profile collaboration with Veeva, UiPath stock has surged more than 60% in recent months and now trades near its 52‑week high. [1]
As of the last trading session on December 5, 2025, PATH closed at $18.67, near an intraday high of $18.98, giving UiPath a market capitalization of roughly $9.9 billion and marking a fresh one‑year high for the shares. [2]
This article pulls together the latest news, analyst forecasts, and technical and fundamental analysis on UiPath stock as of December 7, 2025.
1. PATH stock today: from battered to bid‑up
For much of 2022–2024, UiPath was a poster child for post‑pandemic growth‑stock hangovers. At one point during the inflation shock, the stock fell nearly 88% from peak to trough, according to Trefis, as investors fled high‑multiple software names. [3]
The recent move has flipped that narrative:
- Between early September 2025 (around $11.50) and early December (around $18.50), PATH is up roughly 61%, driven mostly by multiple expansion (price‑to‑sales rising from about 4.3× to 6.6×) rather than explosive revenue growth. [4]
- On December 5, 2025, MarketBeat reported UiPath trading around $18.67, with a 12‑month low of $9.38 and a new 12‑month high of $18.98. [5]
- Volatility remains high: TradingView’s Stock Story notes that UiPath has seen 25 moves greater than 5% over the past year, and the most recent earnings reaction sent the stock up more than 20% in a single session. [6]
Valuation has followed the price:
- At around $18.5–$18.7 per share, Simply Wall St estimates that UiPath trades at about 42–43× trailing earnings, above the broader U.S. software average (~31.7×) but below a high‑growth peer group average (~60.6×). [7]
In short: the market has gone from pricing UiPath as a somewhat impaired growth story to treating it as a premium AI‑automation platform again—without the fundamentals entirely exploding higher.
2. Q3 FY 2026: UiPath’s first profitable third quarter
The immediate catalyst for the surge was UiPath’s third quarter fiscal 2026 earnings (quarter ended October 31, 2025), released on December 3. [8]
Key headline numbers:
- Revenue: $411 million, +16% year over year, beating consensus estimates around $393 million. [9]
- Annual Recurring Revenue (ARR): $1.782 billion, +11% year over year, with $59 million in net new ARR added in the quarter. [10]
- Dollar‑based net retention: 107%, signaling existing customers are still expanding their spend. [11]
- GAAP operating income: $13 million.
- Non‑GAAP operating income: $88 million. [12]
- GAAP and non‑GAAP gross margin: 83% and 85%, respectively. [13]
Management emphasized that this was UiPath’s first GAAP‑profitable third quarter, a milestone after years of investment‑heavy growth. [14]
Benzinga’s breakdown shows the beat in more detail:
- Adjusted EPS came in at $0.16, topping consensus of $0.15.
- Revenue of $411.11 million beat expectations of about $393 million and improved from $354.65 million in the same quarter a year earlier. [15]
A TradingView write‑up underscores the shift in profitability, noting an operating margin around 3.2%, up sharply from roughly ‑12.2% in the prior year’s Q3. [16]
Q4 and near‑term outlook
For the fourth quarter of fiscal 2026, UiPath guided to: [17]
- Revenue: $462–$467 million, with a midpoint slightly above Wall Street’s ~$463 million estimate.
- ARR: $1.844–$1.849 billion as of January 31, 2026.
- Non‑GAAP operating income: approximately $140 million.
CEO Daniel Dines tied the numbers to the company’s “agentic automation” strategy, arguing that customers are consolidating around unified platforms that can orchestrate deterministic automation (classic bots), AI agents and human workers in one governed system. [18]
3. AI partnerships and the Veeva deal: why the stock jumped 20–25%
Earnings alone didn’t move PATH; the AI narrative did a lot of heavy lifting.
Veeva AI Partner Program: regulated industries get automation
On December 4–5, UiPath announced it had joined the Veeva AI Partner Program, integrating its Test Manager with Veeva Validation Management to automate highly regulated software assurance processes—particularly in life sciences. [19]
According to ITPro and UiPath:
- The partnership enables paperless, audit‑ready, traceable validation workflows that sync requirements, test cases and results in real time across both systems. [20]
- UiPath will provide self‑healing UI automation across on‑prem and cloud environments, plus a pre‑built Veeva API connector via UiPath Integration Service to scale automation across the Veeva ecosystem. [21]
RTT News notes that investors loved the move: UiPath shares surged about 24%, adding $3.54 to close around $18.40, on heavy volume after the Veeva news broke, as the market interpreted the partnership as a wedge into regulated, high‑value verticals. [22]
FUSION 2025 and the “agentic AI” ecosystem
The Veeva deal rides on a broader platform story that’s been building since UiPath’s FUSION 2025 conference and subsequent product announcements:
- At FUSION, UiPath rolled out new capabilities for its UiPath Platform™ for Agentic Automation & Orchestration, including UiPath Maestro (a control plane for orchestrating AI agents, robots and people), pre‑built agentic solutions, and expanded security and governance. [23]
- Case studies highlighted at FUSION show customers like Suncoast Credit Union reviewing 10× more checks and preventing $2.7 million in fraud losses, and Cato Networks targeting 40% of IT tickets to be resolved autonomously. [24]
Constellation Research summarizes UiPath’s expanding AI partnership web: [25]
- OpenAI: A ChatGPT connector that feeds frontier models into UiPath’s orchestration layer via the Model Context Protocol (MCP), letting UiPath Maestro coordinate UiPath, OpenAI and third‑party AI agents.
- Google: Voice‑enabled UiPath Conversational Agent powered by Gemini models, wired into business processes without heavy coding.
- Microsoft: Integration with Azure AI Foundry and bi‑directional links to Microsoft 365 Copilot and Copilot Studio.
- NVIDIA: Inclusion of Nemotron models via NVIDIA NIM microservices, targeting high‑trust use cases like fraud detection and healthcare workflows.
- Snowflake: Combining UiPath’s agentic automation platform with Snowflake Cortex AI to convert data insights into autonomous actions.
UiPath’s own earnings release bundles all of this under the banner of a platform where “agents think, robots do, and people lead.” [26]
TIME recognition
In October, TIME named the UiPath Platform™ for Agentic Automation and Orchestration one of its Best Inventions of 2025, citing the technology’s impact on how organizations orchestrate AI agents and automation at scale. [27]
That kind of mainstream validation amplifies the “platform winner” narrative that growth investors tend to pay up for.
4. Fundamental picture: profit surge vs cautious long‑term forecasts
Beneath the buzz, UiPath’s fundamentals are improving—but not in a straight‑line growth fantasy.
From losses to positive trailing earnings
Simply Wall St notes that, on a trailing 12‑month basis: [28]
- UiPath moved from a net loss of about $73.7 million in Q4 2025 to net income of roughly $229.7 million by Q3 2026.
- Basic EPS swung from about ‑$0.13 to +$0.42 over the same period.
This makes the current rally more than just hype: it’s anchored in a genuine profitability turn.
But earnings growth may not be linear
Analysts and data aggregators are more cautious when they look forward:
- Simply Wall St’s consensus modeling suggests revenue may grow around 8.2% per year, but earnings are projected to decline by roughly 38.9% per year over the next three years—largely due to investment needs, FX headwinds and the drag from cloud/SaaS mix shifts. [29]
- At about $18.48, Simply Wall St estimates PATH trades slightly above its DCF‑based fair value of roughly $17.89, and at a trailing P/E premium versus the average U.S. software name. [30]
StockAnalysis, using Finnhub consensus, shows: [31]
- Forecast revenue of around $1.6 billion in 2026 and $1.7 billion in 2027, implying mid‑teens to high‑single‑digit growth depending on scenario.
- Average forecast EPS of $0.67 in 2026 and $0.76 in 2027, consistent with a profitable but not hyper‑profitable trajectory.
The Trefis team reaches a similar conclusion, arguing that the stock’s 61% climb since September has been driven far more by multiple expansion than by revenue growth (3.1% over that span) and currently looks “fairly priced” on their models. [32]
5. What Wall Street thinks: consensus “Hold/Reduce,” targets below current price
Despite the recent euphoria, the average analyst is not screaming “back up the truck” on PATH.
Different datasets all paint a similar picture:
- StockAnalysis: 16 analysts with a consensus rating of “Hold” and an average price target of $15.25, implying an ~18% downside from current levels. Target range: $10–$19. [33]
- MarketBeat: UiPath carries a consensus rating of “Reduce” with an average target of $15.46, about 17% below the recent price around $18.67. The mix: 0 Strong Buys, 1 Buy, 14 Holds, 2 Sells. [34]
- Wall Street Journal: Lists a high target of $19, median of $16, low of $14, and an average around $16.07 versus a current price of $18.67. [35]
- Fintel / Nasdaq: Averages a one‑year target of $15.99, up from $13.80 in mid‑November—showing analysts are nudging numbers higher but still expect the stock to trade below its current price in 12 months. [36]
Where the Street has become more constructive is in individual target hikes after Q3:
- Wells Fargo: Equal‑Weight, target raised $12 → $14.
- Mizuho: Neutral, $14 → $15.
- Canaccord Genuity: Buy, $15 → $19.
- Evercore ISI: In‑Line, $15 → $17. [37]
- Truist Securities: Target $12 → $17, maintaining a neutral‑leaning stance. [38]
- Barclays: Equal‑Weight, $14 → $16. [39]
- BofA Securities: Target lifted from $12 to $14 on better results. [40]
Taken together, that’s an upgrade in tone—from “this is broken” toward “this is fairly valued to slightly rich”—but not a broad call that PATH is deeply undervalued.
6. Technical setup: RS and Composite Ratings flash “leader” behavior
Technical investors have also started to notice UiPath’s momentum.
Investor’s Business Daily (IBD) recently flagged multiple upgrades in UiPath’s rating profile: [41]
- UiPath’s IBD SmartSelect Composite Rating has climbed to 97 (out of 99), placing it ahead of 97% of all stocks on IBD’s combined fundamental/technical metrics.
- Its Relative Strength (RS) Rating—which measures 12‑month price performance vs the market—has jumped from the high‑70s to the low‑90s, now around 93.
- The stock is forming a “cup without handle” base with a suggested buy point around $18.74, with IBD emphasizing the need for a breakout on volume at least 40% above average to confirm the move.
- UiPath currently ranks near the top of the Computer Software–Enterprise group, alongside names like Palantir.
These ratings don’t guarantee anything (nothing does), but they confirm what the chart already hints: UiPath has moved back into “leader” territory in the software sector, at least for now.
7. How different analysts frame the bull and bear cases
You can think of UiPath’s current situation as a tug‑of‑war between narrative strength and valuation skepticism.
Bull case: platform leverage in the AI automation wave
The bullish storyline draws on several pillars:
- Agentic automation platform: UiPath is no longer just a robotic process automation (RPA) vendor; it’s positioning as an orchestration layer for AI agents, bots and humans across complex enterprise workflows. [42]
- Deep ecosystem of AI partnerships: Integrations with OpenAI, Microsoft, Google, Nvidia, Snowflake and now Veeva give UiPath hooks into both the AI model layer and industry‑specific applications. [43]
- Improving profitability: TTM net income is strongly positive, with TTM EPS around $0.42 after a long stretch in the red. [44]
- Brand and recognition: Inclusion in TIME’s Best Inventions list and strong placements in Gartner and Everest Group rankings for automation/testing platforms help de‑risk the narrative for CIO buyers. [45]
- Momentum: High RS and Composite Ratings, plus a decisive upside reaction to Q3 results, suggest institutional buyers are re‑engaging. [46]
From this angle, the current valuation premium is the price of owning an early leader in a category (agentic automation) that could be central to how enterprises deploy AI over the next decade.
Bear case: slowing growth and rich multiples
The bear or skeptical view, which you see more often in consensus data, raises several flags:
- Growth moderation: Revenue growth is healthy but not explosive—mid‑teens now, drifting toward single‑digit or low‑double‑digit in forecasts. [47]
- Earnings volatility: Forward models projecting ~38.9% annual EPS declines over the next three years suggest current profitability may be hard to sustain without trade‑offs in investment or growth. [48]
- Valuation risk: At ~40–45× trailing earnings and a meaningful premium to average software names, there isn’t a lot of room for disappointment if automation budgets soften or new competitors undercut pricing. [49]
- Highly competitive market: UiPath isn’t alone—hyperscalers, legacy enterprise vendors and smaller automation players are all pushing their own AI agent stories, from Microsoft Power Automate to in‑house tools at large corporates.
- History of drawdowns: Trefis’ reminder that the stock once fell ~88% in a downturn is a powerful cautionary tale about volatility and sentiment risk. [50]
Simply Wall St encapsulates this tension neatly: UiPath’s valuation sits between peers and discounted cash‑flow fair value, with bulls pointing to a durable automation platform, and bears pointing to the forecasted EPS retrenchment and only modest revenue growth. [51]
8. What the latest move means for different types of investors
From a neutral, informational standpoint (this is not investment advice), the December 2025 setup for PATH looks something like this:
- Growth‑oriented investors may view UiPath as a leveraged bet on AI‑driven automation, now with proof of profitability and a dense web of partnerships. The upside thesis rests on the idea that agentic automation becomes a standard architecture layer in large enterprises and that UiPath remains a go‑to platform.
- Valuation‑sensitive or defensive investors will likely focus on the premium multiples, consensus targets below the current price, and forecasts of uneven earnings growth. For them, the recent 60% run and 52‑week high might signal less margin of safety rather than a fresh opportunity. [52]
Either way, the next few quarters will be crucial. Key things to watch:
- Whether ARR and net new ARR can re‑accelerate as the AI partnerships move from announcements to revenue. [53]
- How quickly UiPath can monetize agentic AI features versus the cost of building and supporting them. [54]
- The durability of operating margins, now that the company has delivered its first profitable Q3 on a GAAP basis. [55]
- Competitive responses from cloud giants, low‑code platforms and other automation vendors.
References
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