UiPath Inc (PATH)

[santafe2]

Below is a chart of PATH since going public. It was massively overvalued initially and with inflation heating up the software industry is under pressure. See the 2nd pane of the chart for a relative strength chart comparing the SPX to the software industry.

For me, given the current environment, the valuation is still too high but others appear to disagree as it's found a bottom for now. NTM revenue is still ~18X, I'd be more comfortable @ 12X or $24-$25 a share as growth seems to be normalizing as they approach $1B a year in sales.