UiPath (NYSE:PATH) was in the spotlight on Thursday after Bank of America downgraded the automation software company following its weaker-than-expected guidance for fiscal 2026. Shares fell 17.5% in premarket trading.

UiPath’s fourth-quarter revenue of $424 million slightly missed BofA’s $425 million estimate. The firm also flagged weakening growth metrics, including a 1% year-over-year decline in total customer count and a drop in net revenue retention (NRR) to 110% from 113% in the prior quarter.

Bank of America has eliminated 150 junior banker jobs in its investment bank, two sources familiar with the matter told Reuters on Tuesday.

The layoffs are part of an annual process to cut under-performers. However, deal volumes have also fallen below expectations in the first half of the year.