2023-03-16 11:13:45 ET
It's been a rough road for shareholders of UiPath (NYSE: PATH) , but it appears the stock has found a bottom and is rallying on the back of a solid earnings update. As of this writing, UiPath stock is up 35% so far in 2023, though it remains down some 80% from all-time highs.
The recent reason for cheer is that UiPath has made rapid progress on profitability in recent months, the main cause for so much investor angst during the bear market. However, a new bull market for this software stock (and some of its peers) could be in the early innings.
Now that UiPath has wrapped up its fiscal 2023 (for the 12 months ended January 2023), has the narrative changed enough to buy its stock?
For further details see:
UiPath Makes Progress Toward Profitability -- Is It Time to Buy Before a New Bull Market?