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UiPath (PATH) Stock Sinks As Market Gains: What You Should Know

UiPath (PATH) closed at $61.55 in the latest trading session, marking a -0.79% move from the prior day.

This story originally appeared on Zacks

UiPath (PATH) closed the most recent trading day at $61.55, moving -0.79% from the previous trading session. This change lagged the S&P 500's daily gain of 0.28%.

- Zacks

Heading into today, shares of the enterprise automation software developer had gained 0.06% over the past month, lagging the Business Services sector's gain of 0.41% and the S&P 500's gain of 3.07% in that time.

PATH will be looking to display strength as it nears its next earnings release, which is expected to be September 7, 2021.

Investors might also notice recent changes to analyst estimates for PATH. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 222, which puts it in the bottom 13% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow PATH in the coming trading sessions, be sure to utilize Zacks.com.

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