UiPath Stock Plummets After Q1 Results: Here's Why
Portfolio Pulse from Erica Kollmann
UiPath, Inc. (NYSE:PATH) reported its Q1 financial results, beating analyst estimates for both earnings and sales. Despite this, the stock plummeted 30.33% after-hours due to the announcement of CEO Rob Enslin's resignation and the reappointment of founder Daniel Dines as CEO. The company also provided revenue guidance for Q2 and fiscal year 2025.
May 29, 2024 | 8:39 pm
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UiPath reported better-than-expected Q1 earnings and sales, but the stock dropped 30.33% after-hours. The decline is attributed to the announcement of CEO Rob Enslin's resignation and the reappointment of founder Daniel Dines as CEO.
The stock's significant drop is primarily due to the unexpected CEO transition, which has overshadowed the positive earnings and sales results. Investors may be concerned about potential instability or changes in strategic direction.
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