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

Upland Software, Inc. (NASDAQ:UPLD)’s stock price crossed 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.

Wall Street Analysts Forecast Growth

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

Upland Software Stock Down 7.3%

The business has a 50-day simple moving average of $0.73 and a two-hundred day simple moving average of $1.09. The stock has a market capitalization of $22.61 million, a P/E ratio of -1.10 and a beta of 1.36.

Upland Software shares are set to reverse split 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 market closes on Tuesday, June 16th.

Upland Software (NASDAQ:UPLD) last announced its quarterly 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. Upland Software had a negative return on equity of 51.46% and a negative net margin of 7.08%.The firm had revenue of $48.69 million for the quarter, compared to analysts’ expectations of $48.50 million.

Hedge Funds Weigh In On Upland Software

A number of institutional investors and hedge funds have recently bought and sold shares of UPLD. NewEdge Advisors LLC boosted its stake in Upland Software by 697.1% in the first 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 in the last quarter. XTX Topco Ltd boosted its stake in Upland Software by 63.5% in the second quarter. XTX Topco Ltd now owns 28,797 shares of the software maker’s stock worth $56,000 after purchasing an additional 11,187 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Upland Software by 2,534.9% in the second quarter. Russell Investments Group Ltd. now owns 31,750 shares of the software maker’s stock worth $62,000 after purchasing an additional 30,545 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in Upland Software in the second quarter worth $122,000. Finally, Victory Capital Management Inc. acquired a new position in Upland Software in the third quarter worth $213,000. Institutional investors and hedge funds own 77.78% of the company’s stock.

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.