Upland Software (NASDAQ:UPLD) Share Price Breaks Below 50 Day Moving Average – What’s Next?

Shares of Upland Software, Inc. (NASDAQ:UPLD) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $3.63 and traded as low as $2.95. Upland Software shares last traded at $3.08, with a volume of 113,098 shares changing hands.

Wall Street Analysts Forecast Growth

UPLD has been the topic of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Upland Software in a research note on Friday, September 25th. Needham & Company LLC cut their price objective on Upland Software from $10.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, November 5th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Upland Software has an average rating of “Hold” and an average target price of $10.50.

Upland Software Trading Down 3.0%

The company’s 50-day moving average price is $3.59 and its two-hundred day moving average price is $5.99. The company has a market cap of $8.35 million, a P/E ratio of 0.48 and a beta of 1.42.

Upland Software (NASDAQ:UPLD) last released its earnings results on Wednesday, November 4th. The software maker reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.11. Upland Software had a negative net margin of 18.44% and a negative return on equity of 34.37%. The business had revenue of $47.53 million for the quarter, compared to the consensus estimate of $47.20 million.

Insider Activity

In other Upland Software news, Director John T. Mcdonald sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $3.16, for a total value of $47,400.00. Following the transaction, the director owned 249,088 shares of the company’s stock, valued at approximately $787,118.08. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.60% of the company’s stock.

Institutional Investors Weigh In On Upland Software

A hedge fund recently raised its position in Upland Software stock. Rice Hall James & Associates LLC increased its stake in Upland Software, Inc. (NASDAQ:UPLD) by 9.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 974,448 shares of the software maker’s stock after acquiring an additional 80,751 shares during the quarter. Rice Hall James & Associates LLC owned approximately 3.32% of Upland Software worth $649,000 at the end of the most recent quarter. 77.78% of the stock is currently owned by hedge funds and other institutional investors.

Upland Software Company Profile

Upland Software, Inc. is an enterprise software company that develops cloud-based applications for managing work, customer relationships and business processes. Its software is designed to help organizations automate workflows, organize information, improve collaboration and measure operational performance across departments. Upland’s product portfolio has included solutions for project and portfolio management, enterprise content management, knowledge management, customer experience, customer service, sales enablement, communications and information technology service management.