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Why UiPath Popped 12.6% This Week

TheMotleyFool

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Shares of UiPath (NYSE: PATH) popped as much as 13.6% this week, according to S&P Global Market Intelligence. The software automation company reported strong quarterly results that caused shares to rise almost 20% on Thursday, June 2. As of 2:16 p.m. ET on Thursday, the stock is up 13.1% since last Friday's close.

On June 1, after the market closed, UiPath reported its financials for the three months ending April 30. Revenue grew 32% year over year to $245.1 million, and earnings per share (EPS) came in at a negative $0.03. Both numbers beat analyst expectations heading into the report, causing investors to bid up UiPath's stock the next trading day.

Image source: Getty Images.

Source Fool.com

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