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Investor Interest Grows In IPO Of Software Automation Developer UiPath

Investor interest is growing, regarding the initial public offering of UiPath (PATH), which develops software that customers use to automate both simple and complex tasks. The UiPath IPO will price late Tuesday and trade Wednesday.




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The IPO was initially set to raise $1.06 billion by offering 21 million shares in the range of $43 to $50. However, as investor interest in the UiPath IPO grew, the offering was raised.

It now looks to raise $1.3 billion by offering 23 million shares in the range of $52 to $54. That gives it a market valuation near $28 billion.

The UiPath IPO will trade on the New York stock exchange under the ticker PATH.

Transforming The Way Humans Work

The company says its platform is designed to transform the way humans work.

“We provide our customers with a robust set of capabilities to discover automation opportunities,” according to the UiPath IPO filing.

“Our platform leverages the power of artificial intelligence, or AI-based computer vision, to enable our software robots to perform a vast array of actions as a human would when executing business processes,” it said.

As of Jan. 31, UiPath has 7,968 customers. That’s up 32% from the same period a year ago, it says.

Its customers include Adobe (ADBE), Chipotle Mexican Grill (CMG), CrowdStrike (CRWD), Uber (UBER) and CVS Health (CVS)

UiPath IPO: Revenue Jumps 81%

For the period ended Jan. 31, UiPath reported revenue of $607.6 million, up 81% from the year-ago period. It showed a net loss of $92.4 million. However, that’s a sharp improvement from a loss of $520 million in the prior year.

The lead underwriters for the UiPath IPO include Morgan Stanley, JPMorgan and BofA Securities.

It was an explosive time for initial public offerings in the first quarter, the busiest since 2000.

Recent IPOs are where you often find some of the market’s best stocks. Also, new IPOs are typically in their early stages of growth. Big earnings growth potential is generally what fuels an IPO stock’s price performance. IBD’s IPO Leaders section has special screening criteria to find up-and-coming stocks with strong fundamental and technical traits.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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