UiPath Inc. (NYSE: PATH) is having one of those “welcome to equities” days: after a strong run in December, the automation software company’s shares pulled back sharply in Tuesday trading, even as the broader investment narrative around agentic automation and AI-driven workflow orchestration keeps gaining oxygen.
As of Dec. 23, 2025 (19:41 UTC), PATH traded at $15.71, down $0.99 (-5.93%) on the day, after opening near $16.56 and touching an intraday low of $15.69.
The drop stands out mostly because it lands right after a surge earlier in December—an upswing that pushed UiPath back into the conversation as a “real enterprise AI beneficiary,” not just a legacy robotic process automation (RPA) vendor.
UiPath stock price today: a pullback after a strong December run
Two things can be true at once:
- PATH is down meaningfully today.
- PATH has still been on a tear recently.
A Simply Wall St analysis published today notes UiPath shares gained about 28% over the last month, bringing the “annual gain” figure in that piece to roughly the same magnitude. [1]
MarketBeat’s Dec. 23 trading note frames today’s move as a decline occurring on unusually light volume versus typical levels—often a sign that a pullback is being driven by thinner holiday liquidity and incremental profit-taking rather than a single blockbuster headline. [2]
That “thin volume + volatility” combo matters in late December because even modest orders can move prices more than usual—especially for stocks that have just sprinted higher.
What’s behind the dip? Three forces showing up in today’s coverage
Today’s reporting and analysis clusters around three themes:
1) Profit-taking after a post-earnings re-rating
UiPath’s most recent quarterly report (released Dec. 3) reset the tone. The company posted $411 million in revenue (up 16% YoY) and ARR of $1.782 billion (up 11% YoY). [3]
That combination—accelerating revenue plus still-growing ARR—helped fuel the December rally. Today’s slide looks, at least partly, like investors taking chips off the table after that run.
2) Valuation anxiety: the market is pricing optimism, not caution
Simply Wall St’s Dec. 23 piece argues UiPath’s price-to-sales (P/S) ratio around 5.7x is roughly in line with the broader U.S. software industry median (near ~5x), but looks less comfortable when set against the same article’s cited growth expectations. [4]
In that analysis, UiPath’s next-year revenue growth estimate (~9.7%) is well below the broader industry forecast (~22%). [5]
Translation: if growth doesn’t re-accelerate further, valuation can start to feel “tight,” even if it isn’t wildly out of band for software peers.
3) Insider-sale headlines (often routine, still headline-grabbing)
UiPath has also seen a cluster of insider filings in mid-December, which tends to attract attention when a stock is hot.
UiPath’s investor relations site shows multiple Form 4 filings dated Dec. 15–19, 2025, along with a Form 144 on Dec. 17. [6]
One specific Form 4 dated Dec. 18, 2025 shows CEO Daniel Dines sold 45,000 shares at an average price of $16.2257; the form indicates the transaction was made under a plan intended to satisfy Rule 10b5-1(c) conditions (often used for pre-planned selling). [7]
Important nuance: insider selling isn’t automatically bearish—especially when it’s structured via 10b5-1 plans—but it can still amplify volatility when traders are already looking for a reason to de-risk.
Earnings recap: the numbers that powered the December rally
UiPath’s Dec. 3 earnings release is the bedrock beneath most current forecasts, upgrades, and “AI automation” narratives. Key takeaways from the company’s reported third quarter fiscal 2026 results (quarter ended Oct. 31, 2025) include:
- Revenue: $411 million, +16% YoY [8]
- ARR: $1.782 billion, +11% YoY (with net new ARR of $59 million) [9]
- Dollar-based net retention rate:107% [10]
- GAAP operating income:$13 million (UiPath highlighted this as its first GAAP-profitable Q3) [11]
- Cash, cash equivalents, and marketable securities:$1.52 billion [12]
UiPath also issued forward guidance for Q4 fiscal 2026 (ending Jan. 31, 2026):
- Revenue:$462–$467 million [13]
- ARR:$1.844–$1.849 billion [14]
- Non-GAAP operating income: approximately $140 million [15]
If you’re trying to understand why PATH became a momentum name again, it’s this mix: ARR still rising, revenue growth re-accelerating, and profitability improving enough to change the conversation.
Analyst forecasts on Dec. 23: “Hold” consensus, targets lifted into the mid-to-high teens
The most consistent message across today’s consensus snapshots is: analysts aren’t pounding the table, but they’re less negative than earlier in the year—and targets moved up after earnings.
MarketBeat’s Dec. 23 roundup lists a Hold consensus (with 15 Holds, 1 Buy, 1 Sell) and an average price target of $16.00, while calling out multiple price-target increases from major firms earlier in December. [16]
In that same MarketBeat summary, the following updates are cited (all in early-to-mid December):
- RBC raised its target from $16 to $19 (Sector Perform) [17]
- Morgan Stanley raised its target from $15 to $19 (Equal Weight) [18]
- Barclays raised its target from $14 to $16 (Equal Weight) [19]
- Mizuho raised its target from $14 to $15 (Neutral) [20]
- Wells Fargo raised its target from $12 to $14 (Equal Weight) [21]
Other consensus pages show broadly similar ranges. For example, Investing.com’s consensus estimates page lists an average target around $16.4, with a low of $14 and high of $19, alongside a “Neutral” style consensus framing. [22]
What this implies at today’s price: With PATH around the mid-$15s, the stock is trading near the middle of many published target ranges—so upside cases increasingly depend on UiPath beating those baseline expectations in 2026 (or proving the agentic automation story is monetizing faster than models assume).
The agentic automation thesis: why UiPath is back in the AI conversation
UiPath is trying to reposition itself from “RPA vendor” to something closer to an enterprise automation + orchestration layer for a world stuffed with AI agents, legacy apps, and compliance constraints.
In its earnings release, UiPath emphasized platform capabilities for agentic automation and orchestration, including tools for building and testing agents, expanded governance/security, and integrations designed to let UiPath coordinate workflows across systems and AI models. [23]
That strategic direction has been reinforced by a steady drumbeat of enterprise-facing announcements:
- Forrester recognition (Dec. 17): UiPath said it was named a Leader in The Forrester Wave™: Autonomous Testing Platforms, Q4 2025, highlighting strong scores across multiple criteria for its testing solution. [24]
- Veeva AI Partner Program (Dec. 4): UiPath announced it joined Veeva’s AI partner program to support agentic testing/validation workflows in regulated environments. [25]
- Talkdesk integration (Dec. 9): UiPath announced an integration with Talkdesk aimed at automating parts of the customer journey (contact-center adjacent use cases tend to be high-ROI when they work). [26]
For investors, these aren’t just “PR items.” They’re signals about where UiPath believes budget is flowing: regulated enterprise workflows, testing/validation, and customer experience operations—places where companies will pay for automation that is auditable, governed, and measurably productive.
Options and sentiment: traders have been leaning bullish (recently)
While today is a down day, derivatives flows earlier this week leaned constructive.
A TheFly/options note carried by TipRanks (dated Dec. 22) described call-heavy flow and a relatively low put/call ratio in UiPath options activity on that session. [27]
This doesn’t predict tomorrow’s candle. But it does reinforce the broader point: PATH has re-entered “actively traded AI software” territory, which often means bigger swings both directions.
What to watch next: catalysts into early 2026
The next earnings window (date estimates vary)
UiPath hasn’t universally confirmed a single next earnings date across all trackers, and different market calendars show slightly different expectations.
- MarketBeat’s earnings page describes an estimated earnings date of Wednesday, March 11, 2026, explicitly noting it’s not confirmed. [28]
- Investing.com’s earnings page points to mid-March 2026 as well, showing a date in the March 17–18, 2026 range and a revenue forecast figure around $464.82M. [29]
- MarketScreener also shows a projected Q4 2026 earnings release around March 17, 2026. [30]
The practical takeaway: the next major “numbers catalyst” looks like mid-March 2026, when investors will judge whether Q4 results and guidance support the elevated expectations that came with December’s rally.
ARR momentum and retention
UiPath’s ARR and retention metrics are a core part of the bull/bear debate. The company reported ARR of $1.782B and DBNRR of 107% in Q3. [31]
If retention strengthens and net-new ARR improves, upside narratives get easier. If not, valuation gets harder to defend.
Governance + trust as an AI differentiator
In enterprise software, “cool demo” is the audition; governance is the job.
UiPath has been leaning into trust, testing, and regulated workflows—areas where AI projects can stall without auditability. Its Forrester autonomous testing recognition fits that positioning. [32]
Risks that still matter (even after a strong quarter)
Even with better sentiment, the current coverage highlights familiar fault lines:
- Growth vs. valuation tension: Simply Wall St’s analysis flags that forecast growth may be below broader software industry expectations even as the valuation multiple sits around industry norms. [33]
- Execution risk in “agentic” repositioning: UiPath is competing in a noisy landscape where hyperscalers, SaaS platforms, and specialist vendors all want to “own” AI agents and orchestration. (UiPath’s answer is to be the governed coordinator—not always the agent builder.) [34]
- Insider-sale optics: Even planned selling can spook momentum traders, and filings clustered in time tend to draw attention. [35]
- Volatility risk: A stock that can jump on earnings can also fall hard on a quiet Tuesday—today is your reminder.
Bottom line
On Dec. 23, 2025, UiPath stock (PATH) is pulling back after a powerful December rally—one fueled by a stronger earnings print, improving profitability signals, and a renewed narrative around agentic automation. [36]
Analyst consensus remains broadly Hold/Neutral with targets clustering in the mid-to-high teens, but several firms lifted targets after the Dec. 3 report—suggesting that while Wall Street is not uniformly bullish, it is taking UiPath’s improving operating rhythm more seriously than it did earlier in 2025. [37]
For 2026, the story to watch is simple (and brutal): does revenue growth and ARR expansion accelerate enough to justify a premium software multiple—without sacrificing governance, margins, or enterprise trust? That question is likely to get its next big datapoint in mid-March 2026, when Q4 results and guidance come into view. [38]
References
1. simplywall.st, 2. www.marketbeat.com, 3. ir.uipath.com, 4. simplywall.st, 5. simplywall.st, 6. ir.uipath.com, 7. ir.uipath.com, 8. ir.uipath.com, 9. ir.uipath.com, 10. ir.uipath.com, 11. ir.uipath.com, 12. ir.uipath.com, 13. ir.uipath.com, 14. ir.uipath.com, 15. ir.uipath.com, 16. www.marketbeat.com, 17. www.marketbeat.com, 18. www.marketbeat.com, 19. www.marketbeat.com, 20. www.marketbeat.com, 21. www.marketbeat.com, 22. www.investing.com, 23. ir.uipath.com, 24. ir.uipath.com, 25. www.uipath.com, 26. www.uipath.com, 27. www.tipranks.com, 28. www.marketbeat.com, 29. www.investing.com, 30. www.marketscreener.com, 31. ir.uipath.com, 32. ir.uipath.com, 33. simplywall.st, 34. ir.uipath.com, 35. ir.uipath.com, 36. ir.uipath.com, 37. www.marketbeat.com, 38. www.marketbeat.com
