UiPath Shares Fall 3% as Citi Starts Buy With $23 Target
UiPath shares fell 3% to $13.55 midday Wednesday even after Citi initiated coverage with a Buy rating and a $23 target. The drop followed UiPath’s third-quarter revenue guide of $442.5 million, below Wall Street expectations. On Sept. 3, management reported $410 million revenue (+13% YoY), $1.938 billion ARR, and expanded non-GAAP operating margin to 22%.