UiPath has no real earnings, barely any growth and a ridiculous valuation. x.com 

ServiceNow's unexpected expense surge makes its rich valuation more vulnerable in a struggling software sector. Revenue rose 21%, but spending drove an EPS miss and one quarter of guided cRPO deceleration; wider market conditions could hurt near term. The 20% selloff looks excessive, and few software companies should benefit as much from AI. Management could deliver over 3-5 years, though the stock is only close to a buy again now; below $100 looks good for the long term. x.com  x.com  x.com  x.com 

UiPath's agentic AI push is showing up in its deals and results. AI featured in 18 of its top 20 deals last quarter; Q2 revenue was $410M, up 13% and ahead of guidance, Cloud ARR passed $1.3B, up 19%, and GAAP profit ran for a fourth straight quarter. Management raised revenue guidance to $1.789–1.794B. Price is pushing back over an inverse head-and-shoulders neckline, with the 200 EMA underneath; $12.83 is the trigger, with chart targets at $13.95, $14.94, $16.68, $18.01 and $18.77. x.com 

UiPath is a low-quality stock growing barely 10%, and no such stock deserves a re-rating. A thesis that relies on a re-rate admits the fundamentals can't justify a big jump and hopes investors will simply pay more for more of the same. The promised re-rating still has not shown up. x.com 

Okta, Salesforce and Atlassian look insanely expensive at nine times forward revenue against roughly 10% year-over-year growth. Many SaaS firms also have high sales and marketing costs. A commenter flags inference spending, which SaaS investors worry could compress margins; if free cash flow, growth, retention or gross margins weaken, their price-to-sales multiples could collapse. x.com  x.com  x.com  x.com 

UiPath offers a decent but not compelling upside of about 50%, with far better opportunities elsewhere heading into FY27-28. FY27 ARR is just above $2B, and 14% growth would bring about $2.36B in FY28. At a roughly 27.5% FCF margin, that is about $561M of free cash flow, up from $352M in FY26, and its historical 20x multiple implies about an $11.2B market cap versus $7.3B today. x.com 

UiPath shares are unlikely to go up because a 34% short float, especially heavy for a stock priced around $12, will hold the price down. Holders should move on. x.com 

AI is forcing a repricing of the enterprise software business model, and for ServiceNow and SAP the reset is not finished. Claude Managed Agents eased production AI deployment, ServiceNow's AI bundling raised monetization questions, and SAP warned of short-term pain like its cloud-migration margin squeeze. Multiples compress before new economics are understood, and most software still trades at a premium on GAAP P/E and EV/FCF ex-stock comp. Workday at 1.7x revenue hints at a floor. x.com 

UiPath's late-July selloff to about $10.20 came from tech-wide risk sentiment and weakness at peers Pega and IBM, not company news, leaving it at about 15x forward earnings. UiPath has moved from legacy RPA to agentic automation, opening a new growth market, and now delivers full-year GAAP profitability, double-digit revenue growth, gross margins above 80% and positive free cash flow. The $10 level is key support, and sizable short interest could fuel sharp rallies on any positive catalyst. … Show more

Adobe looks cheap only if stock-based compensation is ignored: its 7x 2026 P/E becomes 11x including SBC, as Intuit goes from 9x to 14x and Salesforce from 10x to 19x. Blindly ignoring those real economic costs to shareholders is partly why software was in a bubble. x.com