Posted 3/19/2024, 11:30:00 AM
Ark Bullish on UiPath: Top AI Pick Boasts Strong Growth and Attractive Valuation After Recent Drop
- Cathie Wood and Ark Invest are bullish on artificial intelligence (AI) stocks, especially UiPath which is their top AI pick
- UiPath specializes in robotic process automation (RPA) software to help companies automate tasks and increase productivity
- UiPath has strong financials with 119% net revenue retention rate in Q4 showing customers spend more over time
- UiPath stock trades at an attractive valuation of 10.5x sales compared to over 20x for many other AI software stocks
- Ark Invest backs UiPath long-term and the recent stock drop presents a good buying opportunity