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UiPath (PATH) Beats Stock Market Upswing: What Investors Need to Know
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In the latest market close, UiPath (PATH - Free Report) reached $23.60, with a +1.77% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 1.03%. On the other hand, the Dow registered a gain of 0.34%, and the technology-centric Nasdaq increased by 1.51%.
The enterprise automation software developer's shares have seen a decrease of 1.24% over the last month, not keeping up with the Business Services sector's gain of 6.35% and the S&P 500's gain of 3.21%.
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 is expected to report EPS of $0.15, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $383.32 million, up 24.23% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for UiPath. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding 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).
In terms of valuation, UiPath is presently being traded at a Forward P/E ratio of 47.05. This represents a premium compared to its industry's average Forward P/E of 27.24.
It's also important to note that PATH currently trades at a PEG ratio of 1.34. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.53.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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UiPath (PATH) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, UiPath (PATH - Free Report) reached $23.60, with a +1.77% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 1.03%. On the other hand, the Dow registered a gain of 0.34%, and the technology-centric Nasdaq increased by 1.51%.
The enterprise automation software developer's shares have seen a decrease of 1.24% over the last month, not keeping up with the Business Services sector's gain of 6.35% and the S&P 500's gain of 3.21%.
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 is expected to report EPS of $0.15, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $383.32 million, up 24.23% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for UiPath. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding 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).
In terms of valuation, UiPath is presently being traded at a Forward P/E ratio of 47.05. This represents a premium compared to its industry's average Forward P/E of 27.24.
It's also important to note that PATH currently trades at a PEG ratio of 1.34. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.53.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.