UiPath (PATH) Dips More Than Broader Markets: What You Should Know
UiPath (PATH) closed at $63.85 in the latest trading session, marking a -1.65% move from the prior day.
In the latest trading session, UiPath (PATH) closed at $63.85, marking a -1.65% move from the previous day. This change lagged the S&P 500's 0.58% loss on the day.
Prior to today's trading, shares of the enterprise automation software developer had gained 2.95% over the past month. This has outpaced the Business Services sector's loss of 0.96% and the S&P 500's gain of 2.07% in that time.
Investors will be hoping for strength from PATH as it approaches its next earnings release, which is expected to be September 7, 2021.
It is also important to note the recent changes to analyst estimates for PATH. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PATH is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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, Inc. (PATH): Free Stock Analysis Report
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