UiPath, Inc. ( PATH ) shares are trading lower Wednesday ahead of the company's first-quarter earnings report. Here's a look at what's going on. 

What To Know:

UiPath ( PATH ) is set to report its first-quarter financial results after the bell Wednesday. According to estimates from Benzinga Pro, analysts expect UiPath ( PATH ) to report earnings of 12 cents per share and quarterly revenue of $333.039 million. The company reported earnings of 22 cents per share last quarter, beating estimates by 37.5%, and revenue of $383.826 million, 5.58% above analysts estimates. 

Last week, UiPath ( PATH ) unveiled the UiPath Business Automation Platform, one of the first ecosystem partnerships with Copilot for Microsoft 365 and Microsoft Teams. 

“Our collaboration with Microsoft integrates UiPath ( PATH ) automations to enable potentially millions of Microsoft users to extend the power of automation within Microsoft Copilot by accessing GenAI and specialized AI models from UiPath,” said Graham Sheldon, Chief Product Officer at UiPath ( PATH ). 

“We strive to accelerate human achievement through our end-to-end automation platform that enables any knowledge worker to automate processes, any developer to produce richer user experiences, and any business to foster transformed digital workspaces with AI and automation.”

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UiPath ( PATH ) shares are moving on heavy trading volume as investors anticipate the company's earnings report. According to data from Benzinga Pro, more than 10.89 million shares have been traded in the session, compared to the stock’s 100-day average of 7.256 million shares.

PATH Price Action: According to Benzinga Pro, UiPath ( PATH ) shares are down 1.78% at $18.42 at the time of publication Wednesday.

Image: Courtesy of UiPath, Inc. ( PATH )