UiPath Inc. (PATH) stock surged 5.02% in pre-market trading on Thursday, indicating strong investor interest ahead of the company's scheduled financial results.

The significant price movement comes as the automation software company is set to report its first-quarter earnings after the market closes. According to an earnings calendar, UiPath is tentatively scheduled to release results at 4:10 PM Eastern Time.

Investor optimism appears to be building following recent analysis suggesting the stock may be undervalued. A valuation report published earlier indicated that UiPath trades at a discount to its estimated intrinsic value based on discounted cash flow analysis and compares favorably to industry peers on a price-to-earnings basis. The market is likely positioning for potential positive developments in the earnings announcement.