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Has UiPath (PATH) Outpaced Other Business Services Stocks This Year?
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For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. UiPath (PATH - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
UiPath is one of 317 companies in the Business Services group. The Business Services group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. UiPath is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PATH's full-year earnings has moved 25.4% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PATH has returned 102.4% so far this year. In comparison, Business Services companies have returned an average of 22.5%. As we can see, UiPath is performing better than its sector in the calendar year.
Another stock in the Business Services sector, SPX Technologies (SPXC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 56.3%.
In SPX Technologies' case, the consensus EPS estimate for the current year increased 0.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, UiPath belongs to the Technology Services industry, which includes 175 individual stocks and currently sits at #83 in the Zacks Industry Rank. This group has gained an average of 52.4% so far this year, so PATH is performing better in this area. SPX Technologies is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track UiPath and SPX Technologies. These stocks will be looking to continue their solid performance.
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Has UiPath (PATH) Outpaced Other Business Services Stocks This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. UiPath (PATH - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
UiPath is one of 317 companies in the Business Services group. The Business Services group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. UiPath is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PATH's full-year earnings has moved 25.4% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PATH has returned 102.4% so far this year. In comparison, Business Services companies have returned an average of 22.5%. As we can see, UiPath is performing better than its sector in the calendar year.
Another stock in the Business Services sector, SPX Technologies (SPXC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 56.3%.
In SPX Technologies' case, the consensus EPS estimate for the current year increased 0.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, UiPath belongs to the Technology Services industry, which includes 175 individual stocks and currently sits at #83 in the Zacks Industry Rank. This group has gained an average of 52.4% so far this year, so PATH is performing better in this area. SPX Technologies is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track UiPath and SPX Technologies. These stocks will be looking to continue their solid performance.