Why UiPath Rallied in August
Although the stock has pulled back after its early September earnings report.
Overview
Shares of enterprise automation software company UiPath (NYSE: PATH) rallied 46.3% in August, according to data from S&P Global Market Intelligence.
UiPath didn't provide any specific financial news last month, as it just reported fiscal second-quarter earnings on Thursday.
Details
However, there were a few bullish data points for the enterprise software space during August, as Wall Street analysts grew more optimistic on the sector following the first half's "SaaS-pocalypse." Earnings results from UiPath's peers also indicated resilience amid the disruption concerns that dominated the first half. With a very cheap valuation heading into August, UiPath had a strong month.
Source
Originally published at www.fool.com.
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