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UiPath (PATH) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, UiPath (PATH - Free Report) closed at $25.67, marking a -1.31% move from the previous day. This change lagged the S&P 500's 0.58% gain on the day. Meanwhile, the Dow gained 0.91%, and the Nasdaq, a tech-heavy index, added 0.3%.
Shares of the enterprise automation software developer witnessed a gain of 20.31% over the previous month, beating the performance of the Business Services sector with its gain of 7.73% and the S&P 500's gain of 4.61%.
Market participants will be closely following the financial results of UiPath in its upcoming release. The company plans to announce its earnings on March 13, 2024. The company's upcoming EPS is projected at $0.15, signifying steadiness compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $383.32 million, reflecting a 24.23% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for UiPath. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, UiPath possesses a Zacks Rank of #3 (Hold).
Looking at valuation, UiPath is presently trading at a Forward P/E ratio of 52.77. This valuation marks a premium compared to its industry's average Forward P/E of 24.97.
One should further note that PATH currently holds a PEG ratio of 1.51. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Technology Services industry was having an average PEG ratio of 1.55.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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UiPath (PATH) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, UiPath (PATH - Free Report) closed at $25.67, marking a -1.31% move from the previous day. This change lagged the S&P 500's 0.58% gain on the day. Meanwhile, the Dow gained 0.91%, and the Nasdaq, a tech-heavy index, added 0.3%.
Shares of the enterprise automation software developer witnessed a gain of 20.31% over the previous month, beating the performance of the Business Services sector with its gain of 7.73% and the S&P 500's gain of 4.61%.
Market participants will be closely following the financial results of UiPath in its upcoming release. The company plans to announce its earnings on March 13, 2024. The company's upcoming EPS is projected at $0.15, signifying steadiness compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $383.32 million, reflecting a 24.23% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for UiPath. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, UiPath possesses a Zacks Rank of #3 (Hold).
Looking at valuation, UiPath is presently trading at a Forward P/E ratio of 52.77. This valuation marks a premium compared to its industry's average Forward P/E of 24.97.
One should further note that PATH currently holds a PEG ratio of 1.51. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Technology Services industry was having an average PEG ratio of 1.55.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.