Upland Software (NASDAQ:UPLD) Stock Crosses Above 50 Day Moving Average – Here’s Why

Shares of Upland Software, Inc. (NASDAQ:UPLD) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $0.74 and traded as high as $0.7634. Upland Software shares last traded at $0.6825, with a volume of 181,234 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut their price target on Upland Software from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.67.

Upland Software Price Performance

The firm’s 50-day moving average price is $0.74 and its 200 day moving average price is $1.05. The firm has a market capitalization of $20.04 million, a price-to-earnings ratio of -0.98 and a beta of 1.36.

Upland Software’s stock is set to reverse split before the market opens on Wednesday, June 17th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, June 16th.

Upland Software (NASDAQ:UPLD) last issued its quarterly earnings data on Friday, May 1st. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. Upland Software had a negative return on equity of 51.46% and a negative net margin of 7.08%.The firm had revenue of $48.69 million during the quarter, compared to the consensus estimate of $48.50 million.

Institutional Trading of Upland Software

Several institutional investors and hedge funds have recently made changes to their positions in UPLD. Dimensional Fund Advisors LP acquired a new stake in shares of Upland Software during the third quarter valued at $32,000. Dynamic Technology Lab Private Ltd purchased a new stake in Upland Software during the 3rd quarter worth about $34,000. NewEdge Advisors LLC raised its stake in Upland Software by 697.1% in the 1st quarter. NewEdge Advisors LLC now owns 11,940 shares of the software maker’s stock valued at $34,000 after purchasing an additional 10,442 shares during the last quarter. Centiva Capital LP acquired a new position in Upland Software in the 3rd quarter valued at about $52,000. Finally, XTX Topco Ltd purchased a new position in Upland Software in the 4th quarter valued at about $56,000. 77.78% of the stock is currently owned by hedge funds and other institutional investors.

About Upland Software

Upland Software, Inc is a provider of enterprise work management software delivered through a cloud-based, software-as-a-service model. The company offers a suite of integrated applications designed to help organizations plan, execute and measure work across various business functions including project management, marketing workflows, document automation and contract management.

Its flagship product lines include Upland PSA for professional services automation, Upland Bluebeam for digital collaboration in architecture and engineering workflows, Upland Qvidian for proposal automation, and Upland Pinpoint for customer communication management.