Apr. 19 at 7:32 PM
$PATH
* **The Turn:** Markets move in cycles. When the "AI Hardware" trade (chips/servers) becomes too expensive, capital typically rotates back into "AI Software" (applications). Analysts believe we are approaching a "key support level" where software is deeply oversold.
### 4. Key Dates to Watch
| Event | Potential Impact |
| :--- | :--- |
| **Q2 2026 Earnings** | Watch for a "beat and raise" on revenue guidance (currently
$345M–
$350M). |
| **Share Buybacks** | The company has been aggressively repurchasing shares (21M+ shares recently). This reduces supply and supports the price. |
| **Agentic AI Summit Results** | Watch for case studies from early adopters in Healthcare and Finance showing a **90% reduction** in manual tasks. |
### Summary: When will it turn?
A sustained move back toward the **
$15–
$18 range** likely won't happen until the market sees **Annual Recurring Revenue (ARR)** growth accelerate again. Right now, growth has slowed to about **9%–12%**.
