Upland Software (NASDAQ:UPLD) Share Price Passes Above 50-Day Moving Average – Here’s Why

Upland Software, Inc. (NASDAQ:UPLD) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.73 and traded as high as $0.8397. Upland Software shares last traded at $0.77, with a volume of 352,222 shares traded.

Analyst Upgrades and Downgrades

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

Upland Software Trading Down 8.1%

The company has a market capitalization of $20.77 million, a PE ratio of -1.01 and a beta of 1.36. The business’s fifty day moving average is $0.73 and its two-hundred day moving average is $1.09.

Upland Software’s stock is going 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 announced its earnings results on Friday, May 1st. The software maker reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $48.69 million during the quarter, compared to analyst estimates of $48.50 million. Upland Software had a negative net margin of 7.08% and a negative return on equity of 51.46%.

Institutional Investors Weigh In On Upland Software

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP purchased a new stake in Upland Software during the 3rd quarter valued at $32,000. Dynamic Technology Lab Private Ltd purchased a new stake in Upland Software during the 3rd quarter valued at $34,000. NewEdge Advisors LLC raised its stake in Upland Software by 697.1% during the 1st quarter. NewEdge Advisors LLC now owns 11,940 shares of the software maker’s stock valued at $34,000 after buying an additional 10,442 shares during the last quarter. Centiva Capital LP purchased a new stake in Upland Software during the 3rd quarter valued at $52,000. Finally, XTX Topco Ltd purchased a new stake in Upland Software during the 4th quarter valued at $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.