Is UiPath Stock a Buy Before the End of 2023?
As 2023 has dragged on, I've progressively rekindled my interest in UiPath (NYSE: PATH). It's been a tough run since the 2021 IPO, but the company itself has made steady progress in realigning its business with what investors are demanding in this challenging global economy: profitable growth.
A revamped management team is in place and demonstrating its ability to execute. But after a nearly 100% rally through the first 11 months of 2023, are shares a buy right now?
UiPath has been steadily building a new head of steam but rocketed higher following the third-quarter fiscal 2024 update (for the three months ended in October 2023). Quarterly revenue and annualized recurring revenue (ARR, an important metric for a company that primarily generates subscription-based sales) both increased 24% year over year to $326 million and $1.38 billion, respectively.
Source Fool.com
