StockNews.com Initiates Coverage on Upland Software (NASDAQ:UPLD)

Posted by Defense World Staff on May 18th, 2023

Equities researchers at StockNews.com assumed coverage on shares of Upland Software (NASDAQ:UPLD – Get Rating) in a research note issued on Thursday. The firm set a “hold” rating on the software maker’s stock.

Other research analysts have also recently issued research reports about the stock. Craig Hallum cut their price objective on shares of Upland Software from $9.00 to $4.00 in a report on Friday, May 5th. Canaccord Genuity Group cut their price objective on shares of Upland Software from $15.00 to $8.00 and set a “buy” rating for the company in a report on Monday, February 27th. Roth Mkm cut shares of Upland Software from a “buy” rating to a “neutral” rating and set a $8.00 price objective for the company. in a report on Friday, February 24th. Roth Capital cut shares of Upland Software from a “buy” rating to a “neutral” rating in a research note on Friday, February 24th. Finally, Needham & Company LLC cut shares of Upland Software from a “buy” rating to a “hold” rating in a research note on Friday, February 24th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Upland Software has an average rating of “Hold” and an average target price of $10.25.

Upland Software Price Performance

NASDAQ UPLD opened at $2.95 on Thursday. The company has a market cap of $95.70 million, a PE ratio of -0.50 and a beta of 0.88. Upland Software has a 52-week low of $2.78 and a 52-week high of $16.33. The company has a debt-to-equity ratio of 3.06, a quick ratio of 2.24 and a current ratio of 2.24. The firm’s 50 day moving average price is $3.89 and its 200-day moving average price is $6.33.

Upland Software (NASDAQ:UPLD – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Upland Software had a negative net margin of 58.81% and a positive return on equity of 10.22%. The business had revenue of $77.06 million during the quarter, compared to the consensus estimate of $74.59 million. Sell-side analysts forecast that Upland Software will post 0.3 EPS for the current fiscal year.

Insider Activity at Upland Software

In other Upland Software news, CEO John T. Mcdonald purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average price of $4.80 per share, for a total transaction of $48,000.00. Following the purchase, the chief executive officer now directly owns 253,738 shares in the company, valued at $1,217,942.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.70% of the company’s stock.

Institutional Trading of Upland Software

Several hedge funds and other institutional investors have recently made changes to their positions in UPLD. Ensign Peak Advisors Inc acquired a new stake in shares of Upland Software in the first quarter worth approximately $87,000. Gladius Capital Management LP bought a new position in Upland Software in the 4th quarter valued at about $37,000. UBS Group AG boosted its position in shares of Upland Software by 307.3% during the 3rd quarter. UBS Group AG now owns 9,906 shares of the software maker’s stock valued at $80,000 after purchasing an additional 7,474 shares in the last quarter. Ergoteles LLC purchased a new stake in shares of Upland Software in the first quarter worth approximately $181,000. Finally, Landscape Capital Management L.L.C. bought a new position in Upland Software during the fourth quarter valued at approximately $74,000. Institutional investors and hedge funds own 96.10% of the company’s stock.

About Upland Software

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Upland Software, Inc engages in the provision of cloud-based enterprise work management software, which enables organizations to plan, manage and execute projects and work. It offers customer experience management, cloud, enterprise sales and marketing cloud, project and IT management cloud, and document workflow cloud.