AI-powered business automation software platform maker UiPath has turned a corner after its stock got pounded in the bear market last year. Its stock is up about 63% since the start of the year. On Wednesday, the Relative Strength Rating for UiPath stock rose to a lofty score of 87.
UiPath Stock Rises Into Top Tier
The upgraded 87 RS Rating means UiPath stock tops 87% of all stocks for price performance this past year. Decades of market research reveals that stocks that go on to make the biggest gains tend to have an RS Rating above 80 in the early stages of their moves.
Small-cap UiPath posted strong sales and profit growth last year and in the first quarter this year. Earnings per share growth for the New York-based company ranged from 200% to 467% over the past three quarters, earning it an 81 Earnings Per Share Rating. Among its other ratings UiPath stock has an excellent 97 Composite Rating, out of 99.
The Composite Rating combines five separate proprietary IBD ratings, based on key fundamental and technical criteria, into one easy-to-use score. The best growth stocks have a Composite Rating of 90 or better.
Looking For Winning Stocks? Try This Simple Routine
Profit Rose 467% Last Quarter
Last quarter UiPath reported 467% growth in EPS to 11 cents per share on an 18% increase in revenue to $289.6 million. Daniel Dines, UiPath co-founder and co-CEO said in the Q1 earnings release, "For years UiPath has invested in ML models and domain specific AI for understanding interfaces, mining tasks, and processing documents and communications. Combining this foundation with the recent advancements in generative AI further strengthens our platform."
UiPath stock is building a consolidation with an 18.44 buy point. See if it can clear the breakout price in volume at least 40% above average.
UiPath stock holds the No. 13 rank among its peers in the Computer Software-Enterprise industry group. Dynatrace and JFrog are among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, one useful metric is relative price strength.
The exclusive Relative Strength Rating from Investor's Business Daily tracks price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
Please follow James DeTar on Twitter @JimDeTar
