The AI megatrend has driven a spectacular rally among stocks in the tech sector. However, the rally is primarily driven by a handful of big tech giants such as Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Alphabet (GOOGL), and Amazon (AMZN). Alternatively, there are several other AI stocks, such as UiPath (PATH), that are trailing the broader markets and peers by a wide margin. Still, I am bullish on UiPath due to its improving financials, cheap valuation, and expanding addressable market.
An Overview of UiPath
Valued at $6.4 billion by market cap, UiPath is an enterprise-facing automation platform that offers a range of RPA (robotic process automation) solutions to clients in verticals such as banking, healthcare, insurance, manufacturing, retail, telecom, and several others.
It offers a suite of integrated software solutions to build,…
