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UiPath Inc. Forecast: Reassessing The Past

UiPath Inc. (NYSE:PATH) concluded the trading at $17.56 on Friday, September 15 with a fall of -1.07% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $17.75 with its price kept floating in the range of $17.125 and $17.7582 on the day. Considering stock’s 52-week price range provides that PATH hit a high price of $19.94 and saw its price falling to a low level of $10.40 during that period. Over a period of past 1-month, stock came adding 14.85% in its value.

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With its current market valuation of $9.64 billion. Analysts are in estimates of $0.07 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $0.41 for 2024 with estimates of that growing to $0.47 in next year. These estimates are suggesting current year growth of 192.90% for EPS and 14.60% growth next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $315.59 million. They suggested that in the process company could generate revenue of as low as $314.1 million which could climb up to $317.34 million to hit a high. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $1.28 billion in 2024, which will be 20.50% more from revenue generated by the company last year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review PATH stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 100% Buy for it.

According to ratings assigned by 21 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 12 of them are recommending UiPath Inc. (PATH) as a Hold, while 8 are in view that stock is a Buy. Recommendation by 0 analysts for the stock is an Underweight while number of those analysts who rated the stock as an Overweight is 1, whereas 0 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.

Digging deeper we become aware of the PEG ratio of the PATH stock which is currently positioned at 0. It further provides that stock’s current price level is 7.86% away from its 20-day simple moving average and is 5.62% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 57.04 while volatility remained at 4.95% over the past week which changes to 4.68% when measuring it over the past month. Beta is valued at 0.68, while measure of average true range or ATR is currently at 0.80.

Having a second look at UiPath Inc. (NYSE:PATH) provides that stock’s average daily trading volume for 3 months was 8.12 million, while it jumped to 12.14 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 562.88 million.

The percentage of outstanding shares held by the insiders is 2.40% while it is 63.80% for the institutional holders. The figures also indicate that as of Aug 30, 2023, number of stock’s short shares was 43.65 million which implies a short ratio of 7.41. This shows up a 7.70% of Short Interest in company’s outstanding shares on the day. In August the standing of shares short improved as it was 43.03 million in the previous month. Addition of 38.16% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.