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UiPath (PATH - Free Report) closed at $23.75 in the latest trading session, marking a +1.67% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.52%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.9%.
Heading into today, shares of the enterprise automation software developer had gained 1.65% over the past month, lagging the Business Services sector's gain of 8.01% and the S&P 500's gain of 3.85% in that time.
The investment community will be closely monitoring the performance of UiPath in its forthcoming earnings report. The company is scheduled to release its earnings on March 13, 2024. The company is predicted to post an EPS of $0.15, indicating constancy compared to the equivalent quarter last 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.
Investors should also take note of any recent adjustments to analyst estimates for UiPath. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. UiPath is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, UiPath currently has a Forward P/E ratio of 47.4. This represents a premium compared to its industry's average Forward P/E of 26.84.
It is also worth noting that PATH currently has a PEG ratio of 1.35. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Technology Services industry held 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 91, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why UiPath (PATH) Outpaced the Stock Market Today
UiPath (PATH - Free Report) closed at $23.75 in the latest trading session, marking a +1.67% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.52%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw an increase of 0.9%.
Heading into today, shares of the enterprise automation software developer had gained 1.65% over the past month, lagging the Business Services sector's gain of 8.01% and the S&P 500's gain of 3.85% in that time.
The investment community will be closely monitoring the performance of UiPath in its forthcoming earnings report. The company is scheduled to release its earnings on March 13, 2024. The company is predicted to post an EPS of $0.15, indicating constancy compared to the equivalent quarter last 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.
Investors should also take note of any recent adjustments to analyst estimates for UiPath. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. UiPath is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, UiPath currently has a Forward P/E ratio of 47.4. This represents a premium compared to its industry's average Forward P/E of 26.84.
It is also worth noting that PATH currently has a PEG ratio of 1.35. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Technology Services industry held 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 91, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.