UiPath ( (PATH) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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UiPath shares climbed after analysts took a fresh look at software stocks and concluded the backdrop is turning more favorable, helped by stable IT spending and a sector that still looks undervalued and out of favor. That reassessment came on the heels of UiPath’s latest quarterly report, which showed stronger revenue and a swing to profit compared with a year earlier, prompting analysts to revisit and adjust their price targets for the stock.
More about UiPath
YTD Price Performance: 2.99%
Average Trading Volume: 24,233,523
Technical Sentiment Signal: Buy
Current Market Cap: $9.03B
For further insights into PATH stock on TipRanks’ Stock Analysis page.
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