Top Stock Picks for 2024: UiPath

Software and robotics stock UiPath could be a turnaround story for this year

Senior Vice President of Research
Jan 10, 2024 at 10:20 AM
facebook X logo linkedin

Every day for the next three weeks, we're going to highlight one of Schaeffer's top 12 picks for 2024. For today, we have software robotics stock UiPath Inc (NYSE:PATH). To access the entirety of the 2024 report, click here.

If you are looking for a potential " turnaround play" for your portfolio in 2024, software name UiPath (PATH) looks like a good pick. In December, the shares broke out above a two-year basing range between $11 and $21, while also enjoying a post-earnings bull gap after their Nov. 30 report. The successful earnings report could be attributed to a top-and bottom-line beat, as well as spiking operating margins and revenue growth that surpassed analyst expectations.

Short interest peaked in mid-August and is slowly rolling over, which suggests short covering could become a tailwind for the shares. There is also plenty of room for bull notes to roll in, per the 10 of 16 following brokerages that carry a " hold" recommendation, as well as the average 12-month price target of $23.24, which is a nearly 10% deficit to current trading levels.



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI