UiPath, a maker of AI-powered software for business automation (PATH), has made a comeback after its stock was hammered in the bear markets last year. The stock has risen by about 63% since January. The Relative strength rating for UiPath rose to an impressive score of 87 on Wednesday.
UiPath Stock Rises Into Top Tier
UiPath's stock, with its upgraded 87 RS rating, has outperformed 87% of other stocks in terms of price performance over the past year. Market research over the past decade has shown that the stocks with the greatest gains are those that have an RS rating above 80 at the beginning of their move.
UiPath, a small-cap company, posted strong growth in sales and profits last year as well as the first quarter of this year. The company's earnings per share grew from 200% to 467 % over the last three quarters. It has an Earnings PerShare Rating of 81. UiPath's stock also has a 97 Composite rating out of 99.
The Composite Rating is a simple score that combines five proprietary IBD ratings based on fundamental and technical criteria into one. Composite Ratings of 90 and above are indicative of the best growth stocks.
Profit Rose 467% Last Quarter
UiPath's EPS grew 467% to 11 cents a share, on a revenue increase of 18% to $289.6 millions. Daniel Dines said, in the Q1 earnings report, that UiPath had invested for years in ML models, domain-specific AI, and understanding interfaces. Combining the latest advances in generative AI with this foundation further strengthens our platform."
UiPath is consolidating with a 18.44 buy-point. Check if the stock can break out at a price that is 40% higher than average.
UiPath is ranked No. 13 among its peers in the Computer Software-Enterprise industry group. Computer Software-Enterprise is ranked No. 13 amongst its peers. Dynatrace (DT), and JFrog, (FROG), are two of the highest-rated stocks in this group.
One useful metric to use when deciding which stocks are the best ones to watch and buy is relative price strength.
Investor's Business Daily's exclusive Relative strength rating tracks price movements with a score ranging from 1 (worst to 99 (best). The score compares a stock's performance in the past 52 weeks to other stocks within our database.