PATH - Down Nearly 60% From Its 52-Week High Could This AI Stock Be a Bargain Buy Right Now?
2024-06-13 06:30:00 ET
Artificial intelligence (AI) stocks generally aren't cheap these days, so when they go on sale, it's worth paying attention. One AI stock that has been under enormous pressure lately is UiPath (NYSE: PATH) . A favorite of Cathie Wood, the company helps businesses use software to automate repetitive tasks and increase overall efficiency.
At a market capitalization of less than $7 billion, the stock could have a lot of room to rise in value if it proves to be the real deal. Let's take a closer look at both the risks and opportunities for the business, and whether it may be a good fit for your portfolio.
On May 29, UiPath announced both its first-quarter results for fiscal 2025 and that its CEO Rob Enslin was resigning , effective June 1. Daniel Dines, who founded the company, will be taking over as CEO again. Dines has been either CEO or co-CEO from 2005 until Jan. 31 of this year, when he transitioned to chief innovation officer. Enslin stated he was stepping down for "personal reasons."
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Down Nearly 60% From Its 52-Week High, Could This AI Stock Be a Bargain Buy Right Now?