UiPath's (NYSE: PATH) stock plunged 34% on May 30 after the company released its latest earnings report. For the first quarter of fiscal 2025, which ended on April 30, the automation software provider's revenue rose 16% year over year to $335 million and beat analysts' estimates by $2 million. Its adjusted EPS climbed $0.02 to $0.13 and cleared the consensus forecast by $0.01.
Those headline numbers looked healthy, but UiPath also lowered its full-year guidance and announced the abrupt resignation of its CEO Rob Enslin. That double whammy of bad news resulted in the stock's worst single-day drop since its public debut in 2021, and it now trades nearly 80% below its IPO price. So should contrarian investors still buy this hated stock?
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