UiPath's (NYSE: PATH) stock jumped 6% during after-hours trading on Sept. 6 following the company's latest earnings report. For the second quarter of fiscal 2024, which ended on July 31, the automation software company's revenue rose 19% year over year to $287 million and topped analysts' estimates by $5 million. It generated an adjusted net profit of $49 million, compared to a net loss of $11 million a year ago, as its adjusted earnings of $0.09 per share cleared the consensus forecast by $0.06.
UiPath's headline numbers look healthy, but its stock remains nearly 70% below its initial public offering (IPO) price. Let's review the bull and bear cases to see if it's a turnaround play.
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