Posted 4/7/2024, 7:30:00 AM
UiPath Leads Cathie Wood's AI Bets, Posts Strong Growth and Cash Position
- UiPath is Cathie Wood's largest AI investment in her Ark Innovation ETF, accounting for 5.8% of holdings
- UiPath provides an AI automation platform to help companies improve efficiency and save money
- UiPath has shown an ability to upsell to existing customers, with net dollar retention over 120%
- Partnerships with SAP, Microsoft, Deloitte etc. present opportunities to acquire new customers
- UiPath is growing revenue quickly (31% last quarter), trades at reasonable valuation multiples, has $1.9B cash; remains a strong growth stock