Upland Software (NASDAQ:UPLD) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

Upland Software, Inc. (NASDAQ:UPLD)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.18 and traded as low as $4.53. Upland Software shares last traded at $4.85, with a volume of 59,349 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group cut their target price on shares of Upland Software from $50.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.67.

Upland Software Stock Performance

The company has a 50-day moving average of $7.18 and a 200-day moving average of $9.86. The firm has a market capitalization of $14.26 million, a price-to-earnings ratio of -0.69 and a beta of 1.36.

Upland Software (NASDAQ:UPLD) last announced its quarterly earnings results on Friday, May 1st. The software maker reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.30. The firm had revenue of $48.69 million for 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 Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its holdings in shares of Upland Software by 486.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 186,048 shares of the software maker’s stock valued at $441,000 after acquiring an additional 154,298 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Upland Software by 10.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,320,696 shares of the software maker’s stock valued at $3,130,000 after purchasing an additional 128,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Upland Software by 44.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 301,377 shares of the software maker’s stock worth $431,000 after buying an additional 92,528 shares during the last quarter. Two Sigma Investments LP lifted its position in Upland Software by 35.4% during the third quarter. Two Sigma Investments LP now owns 352,699 shares of the software maker’s stock worth $836,000 after acquiring an additional 92,266 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Upland Software in the 3rd quarter valued at $213,000. Institutional investors own 77.78% of the company’s stock.

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.