S and PATH are both sharply lower year-over-year
Automation software stock UiPath Inc (NYSE:PATH) is down 16.1% at $9.92 at last glance, and earlier hit a record low of $9.50, after the company's fourth-quarter revenue miss and disappointing fiscal 2026 guidance. During the call, CEO Daniel Dines pointed macroeconomic concerns, and BofA Global Research today downgraded the shares to "underperform" from "neutral," slashing its price target to $10 from $18.
PATH is now down 58% year-over-year, and after a 34% post-earnings bear gap in May, has traded in a tight range. With this level breached, the bottom could fall out for the tech stock.
Over in the options pits, 20,000 calls and 19,000 puts have been exchanged so far -- eight times the overall options volume typically seen at this point. The June 9 put is the most popular, with new positions being bought to open there.
Cybersecurity concern SentinelOne Inc (NYSE:S) was last seen down 4.1% at $18.49, though paring premarket losses of around 15%. S is brushing off better-than-expected fourth-quarter earnings and revenue after downbeat quarterly and annual forecasts.
Several analysts chimed in with price-target cuts after the event, including Needham to $23 from $32. SentinelOne is down 33% in the last 12 months, and is today testing the May 30 closing level around $17.50
S has seen 9,678 calls and 4,113 puts cross the tape so far today, which represents five times the intraday average volume. The weekly 3/14 18.50-strike call is the most popular contract, with new positions opening at the 19 call in the same series.