Upland Software (NASDAQ:UPLD) Rating Increased to Buy at Needham & Company LLC

Needham & Company LLC upgraded shares of Upland Software (NASDAQ:UPLD) from a hold rating to a buy rating in a research note published on Thursday, MarketBeat.com reports. The brokerage currently has $4.50 target price on the software maker’s stock.

Other research analysts have also recently issued research reports about the stock. Craig Hallum raised shares of Upland Software from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research report on Friday, August 1st. Wall Street Zen cut shares of Upland Software from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Upland Software has a consensus rating of “Buy” and a consensus target price of $4.00.

Upland Software Trading Down 7.4%

Shares of UPLD opened at $2.63 on Thursday. Upland Software has a 12-month low of $1.69 and a 12-month high of $5.64. The firm has a 50-day moving average price of $1.99 and a 200 day moving average price of $2.55. The firm has a market capitalization of $75.67 million, a P/E ratio of -1.48 and a beta of 1.18.

Hedge Funds Weigh In On Upland Software

A number of institutional investors and hedge funds have recently made changes to their positions in UPLD. Two Sigma Advisers LP increased its stake in Upland Software by 106.8% in the 4th quarter. Two Sigma Advisers LP now owns 406,400 shares of the software maker’s stock valued at $1,764,000 after purchasing an additional 209,900 shares in the last quarter. Two Sigma Investments LP increased its stake in Upland Software by 111.1% in the 4th quarter. Two Sigma Investments LP now owns 321,583 shares of the software maker’s stock valued at $1,396,000 after purchasing an additional 169,240 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Upland Software by 13.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,301,061 shares of the software maker’s stock valued at $5,647,000 after purchasing an additional 154,667 shares in the last quarter. Inspire Advisors LLC purchased a new position in Upland Software in the 1st quarter valued at approximately $338,000. Finally, Walleye Capital LLC purchased a new position in Upland Software in the 4th quarter valued at approximately $498,000. 77.78% of the stock is owned by institutional investors and hedge funds.

About Upland Software

Upland Software, Inc, together with its subsidiaries, provides cloud-based software applications under the Upland brand name in the United States, the United Kingdom, Canada, and internationally. It offers software applications that enable organizations to plan, manage and execute projects, and work in the areas of marketing, sales, contact center, knowledge management, project management, information technology, business operations, human resources, and legal.