Top Stock Picks for Week of March 18, 2024

UiPath Inc. (PATH) offers an end-to-end platform for automation, combining Robotic Process Automation solution for digital business operations. For the quarter ended January 2024, UiPath  reported revenue up by double digits over the same period last year. The reported revenue represents a positive surprise over the Zacks Consensus Estimate. While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights. Included in that data, the average prediction of analysts places 'Revenue- Licenses' at an estimated change of +22% from the prior-year quarter. The consensus among analysts is that 'Revenue- Subscription services' will reach an estimated change of +28.5% year over year. Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for UiPath. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Vertiv Holdings Co (VRT) provides digital infrastructure and continuity solutions.Vertiv Holdings Co. appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating upgrade for Vertiv Holdings Co. is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. Analysts have been steadily raising their estimates for Vertiv Holdings Co. Over the past three months, the Zacks Consensus Estimate for the company has increased as well. The upgrade of Vertiv Holdings Co. to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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