Upland Software (NASDAQ:UPLD) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Upland Software, Inc. (NASDAQ:UPLD) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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 changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their price objective on shares of Upland Software from $5.00 to $3.00 and set a “buy” rating on the stock in a report 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, Upland Software presently has a consensus rating of “Moderate Buy” and an average target price of $3.67.

Upland Software Stock Performance

The stock’s 50-day moving average is $0.69 and its 200 day moving average is $1.13. The stock has a market capitalization of $23.43 million, a PE ratio of -1.14 and a beta of 1.22.

Upland Software (NASDAQ:UPLD) last posted its earnings results on Friday, May 1st. The software maker reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $48.69 million for the quarter, compared to the consensus estimate of $48.50 million. Upland Software had a negative net margin of 7.08% and a negative return on equity of 51.46%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP purchased a new position in Upland Software during the 3rd quarter worth $32,000. Dynamic Technology Lab Private Ltd purchased a new position in Upland Software during the 3rd quarter worth $34,000. NewEdge Advisors LLC grew its position in Upland Software by 697.1% during the 1st quarter. NewEdge Advisors LLC now owns 11,940 shares of the software maker’s stock worth $34,000 after purchasing an additional 10,442 shares during the last quarter. Centiva Capital LP purchased a new position in Upland Software during the 3rd quarter worth $52,000. Finally, XTX Topco Ltd purchased a new position in Upland Software during the 4th quarter worth $56,000. 77.78% of the stock is 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.