Upland Software’s (UPLD) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Upland Software (NASDAQ:UPLD) in a report published on Friday morning. The firm currently has a $34.00 price objective on the software maker’s stock.

A number of other equities analysts have also weighed in on UPLD. Craig Hallum reiterated a buy rating and issued a $36.00 price target (up from $32.00) on shares of Upland Software in a research report on Friday. Canaccord Genuity boosted their target price on shares of Upland Software from $32.00 to $35.00 and gave the stock a buy rating in a report on Friday. SunTrust Banks boosted their target price on shares of Upland Software to $36.00 and gave the stock a buy rating in a report on Friday. They noted that the move was a valuation call. BidaskClub raised shares of Upland Software from a buy rating to a strong-buy rating in a report on Thursday. Finally, Zacks Investment Research downgraded shares of Upland Software from a buy rating to a hold rating in a report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $31.67.

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Upland Software (NASDAQ UPLD) opened at $29.13 on Friday. The firm has a market cap of $624.09, a P/E ratio of -28.28, a price-to-earnings-growth ratio of 2.02 and a beta of 0.52. Upland Software has a 12-month low of $14.53 and a 12-month high of $31.70. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.69 and a quick ratio of 0.69.

Upland Software (NASDAQ:UPLD) last posted its quarterly earnings results on Thursday, March 8th. The software maker reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.10. The business had revenue of $27.80 million during the quarter, compared to analyst estimates of $27.15 million. Upland Software had a negative net margin of 19.12% and a negative return on equity of 3.16%. The company’s revenue was up 43.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. sell-side analysts anticipate that Upland Software will post 0.74 EPS for the current year.

In other news, CFO Michael Douglass Hill sold 40,000 shares of the business’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $29.79, for a total value of $1,191,600.00. Following the transaction, the chief financial officer now owns 239,225 shares of the company’s stock, valued at $7,126,512.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John T. Mcdonald sold 67,500 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $22.23, for a total transaction of $1,500,525.00. Following the sale, the chief executive officer now directly owns 1,758,288 shares in the company, valued at approximately $39,086,742.24. The disclosure for this sale can be found here. Insiders sold 310,000 shares of company stock worth $8,048,930 in the last three months. Insiders own 30.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in UPLD. The Manufacturers Life Insurance Company raised its stake in Upland Software by 784.1% during the second quarter. The Manufacturers Life Insurance Company now owns 7,179 shares of the software maker’s stock valued at $158,000 after purchasing an additional 6,367 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Upland Software during the second quarter valued at $172,000. Quadrature Capital Ltd purchased a new stake in Upland Software during the fourth quarter valued at $221,000. Rice Hall James & Associates LLC purchased a new stake in Upland Software during the fourth quarter valued at $272,000. Finally, California State Teachers Retirement System purchased a new stake in Upland Software during the second quarter valued at $284,000. 50.19% of the stock is currently owned by institutional investors.

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About Upland Software

Upland Software Inc is a provider of cloud-based enterprise work management software. The Company provides a family of cloud-based enterprise work management software applications for the information technology, process excellence, finance, professional services and marketing functions within organizations.

Analyst Recommendations for Upland Software (NASDAQ:UPLD)

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