BidaskClub Upgrades Upland Software (NASDAQ:UPLD) to “Buy”

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Upland Software (NASDAQ:UPLD) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Several other equities research analysts have also recently issued reports on UPLD. Raymond James lifted their price objective on shares of Upland Software from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Credit Suisse Group initiated coverage on Upland Software in a report on Wednesday, November 6th. They set an “outperform” rating and a $48.00 price target for the company. ValuEngine upgraded Upland Software from a “strong sell” rating to a “sell” rating in a report on Friday, January 3rd. Zacks Investment Research downgraded Upland Software from a “hold” rating to a “sell” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group dropped their price objective on Upland Software from $61.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, November 8th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating and nine have assigned a buy rating to the stock. Upland Software presently has a consensus rating of “Buy” and a consensus target price of $50.67.

Shares of Upland Software stock traded down $0.43 on Tuesday, reaching $40.97. 8,198 shares of the company were exchanged, compared to its average volume of 182,930. Upland Software has a 1-year low of $27.97 and a 1-year high of $54.87. The company has a market cap of $1.04 billion, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.53. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.56 and a quick ratio of 1.56. The stock’s 50 day moving average price is $37.53 and its 200-day moving average price is $39.55.

Upland Software (NASDAQ:UPLD) last issued its quarterly earnings results on Thursday, November 7th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.20. Upland Software had a negative net margin of 11.31% and a positive return on equity of 21.45%. The company had revenue of $55.10 million during the quarter, compared to the consensus estimate of $55.33 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 48.5% on a year-over-year basis. On average, research analysts predict that Upland Software will post 1.43 earnings per share for the current fiscal year.

In related news, Director Stephen E. Courter sold 1,450 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $34.42, for a total transaction of $49,909.00. Following the completion of the sale, the director now owns 11,651 shares in the company, valued at $401,027.42. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 11.60% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new position in shares of Upland Software in the 2nd quarter valued at approximately $41,000. Royal Bank of Canada grew its position in Upland Software by 177.2% in the 2nd quarter. Royal Bank of Canada now owns 4,482 shares of the software maker’s stock valued at $204,000 after buying an additional 2,865 shares during the last quarter. JPMorgan Chase & Co. grew its position in Upland Software by 60.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,173 shares of the software maker’s stock valued at $271,000 after buying an additional 2,336 shares during the last quarter. Metropolitan Life Insurance Co NY increased its stake in Upland Software by 38.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,336 shares of the software maker’s stock valued at $256,000 after buying an additional 2,037 shares during the period. Finally, Juncture Wealth Strategies LLC acquired a new position in Upland Software in the 3rd quarter valued at $331,000. 79.48% of the stock is currently owned by institutional investors.

About Upland Software

Upland Software, Inc provides cloud-based enterprise work management software in the United States, Canada, and internationally. The company offers a family of software applications under the Upland brand in the areas of information technology (IT), process excellence and operations, finance, professional services, and marketing.

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Analyst Recommendations for Upland Software (NASDAQ:UPLD)

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