Upland Software (NASDAQ:UPLD) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of Upland Software, Inc. (NASDAQ:UPLD) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.69 and traded as high as $0.89. Upland Software shares last traded at $0.7981, with a volume of 317,520 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their target price on shares of Upland Software from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Three 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $3.67.

Upland Software Stock Up 1.5%

The firm’s 50 day simple moving average is $0.71 and its 200 day simple moving average is $1.12. The company has a market capitalization of $26.51 million, a PE ratio of -1.29 and a beta of 1.22.

Upland Software (NASDAQ:UPLD) last posted its quarterly earnings data on Friday, May 1st. The software maker reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The company 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 Trading of Upland Software

A number of large investors have recently made changes to their positions in UPLD. Dimensional Fund Advisors LP purchased 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 shares of Upland Software during the third quarter valued at $34,000. NewEdge Advisors LLC boosted its stake in shares of Upland Software by 697.1% during the first 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 period. Centiva Capital LP purchased a new stake in shares of Upland Software during the third quarter valued at $52,000. Finally, XTX Topco Ltd purchased a new stake in shares of Upland Software during the fourth quarter valued at $56,000. 77.78% of the stock is owned by hedge funds and other institutional investors.

Upland Software Company Profile

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.