PATH - UiPath's Stock Price Just Plunged. Time to Buy?
2024-06-07 07:19:00 ET
UiPath 's (NYSE: PATH) first-quarter report was a baffling affair. The reported results were within management's guidance ranges, but a top-end revenue reading was undermined by low-range profits and downright disappointing forward guidance. The business automation expert lowered its full-year revenue forecast by 10% and the operating profit projection by 51%.
Many analysts were quick to cut their price targets for UiPath's stock and the share price closed 34% lower the next day. But it wasn't a total retreat -- opportunistic investors like Ark Invest's Cathie Wood called it a buying opportunity and bought 2 million shares.
The conflicting data and investor reactions add up to one burning question. Should you buy or sell UiPath's stock right now?
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UiPath's Stock Price Just Plunged. Time to Buy?