Upland Software (NASDAQ:UPLD) Share Price Breaks Below 50-Day Moving Average – Time to Sell?

Upland Software, Inc. (NASDAQ:UPLD)’s stock price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $3.63 and traded as low as $2.95. Upland Software shares last traded at $3.08, with a volume of 113,098 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UPLD. Needham & Company LLC cut their price objective on shares of Upland Software from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Upland Software in a research report on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.50.

Upland Software Price Performance

The firm has a market cap of $8.75 million, a P/E ratio of -0.22 and a beta of 1.42. The company’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $6.11.

Upland Software (NASDAQ:UPLD) last announced its earnings results on Wednesday, November 4th. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.11. The firm had revenue of $47.53 million for the quarter, compared to analysts’ expectations of $47.20 million. Upland Software had a negative net margin of 18.44% and a negative return on equity of 34.37%.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Upland Software stock. Rice Hall James & Associates LLC boosted its stake in shares of Upland Software, Inc. (NASDAQ:UPLD) by 9.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 974,448 shares of the software maker’s stock after buying an additional 80,751 shares during the quarter. Rice Hall James & Associates LLC owned approximately 3.32% of Upland Software worth $649,000 as of its most recent SEC filing. Institutional investors own 77.78% of the company’s stock.

About Upland Software

Upland Software, Inc. is an enterprise software company that develops cloud-based applications for managing work, customer relationships and business processes. Its software is designed to help organizations automate workflows, organize information, improve collaboration and measure operational performance across departments. Upland’s product portfolio has included solutions for project and portfolio management, enterprise content management, knowledge management, customer experience, customer service, sales enablement, communications and information technology service management.