The latest trading session saw UiPath (PATH) ending at $18.35, denoting a +0.22% adjustment from its last day’s close. The stock outperformed the S&P 500, which registered a daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.33%, and the technology-centric Nasdaq decreased by 0.11%.
Coming into today, shares of the enterprise automation software developer had gained 19.83% in the past month. In that same time, the Business Services sector gained 8.82%, while the S&P 500 gained 8.22%.
Market participants will be closely following the financial results of UiPath in its upcoming release. The company plans to announce its earnings on November 30, 2023. The company is expected to report EPS of $0.07, up 40% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $315.54 million, up 20.1% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.40 per share and revenue of $1.28 billion, which would represent changes of +185.71% and +20.49%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for UiPath. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. UiPath currently has a Zacks Rank of #3 (Hold).
With respect to valuation, UiPath is currently being traded at a Forward P/E ratio of 45.61. Its industry sports an average Forward P/E of 25.29, so one might conclude that UiPath is trading at a premium comparatively.
It is also worth noting that PATH currently has a PEG ratio of 0.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. The Technology Services was holding an average PEG ratio of 1.52 at yesterday’s closing price.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 33% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
UiPath, Inc. (PATH) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.