Raymond James Trims Upland Software (NASDAQ:UPLD) Target Price to $17.00

Upland Software (NASDAQ:UPLD – Get Rating) had its price objective dropped by equities research analysts at Raymond James from $24.00 to $17.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Raymond James’ target price indicates a potential upside of 46.55% from the stock’s current price.

Other analysts have also issued research reports about the company. Needham & Company LLC dropped their target price on Upland Software from $40.00 to $25.00 in a report on Thursday, May 5th. Jefferies Financial Group dropped their price objective on Upland Software from $17.00 to $14.00 in a research note on Monday, May 23rd. Finally, Truist Financial dropped their price objective on Upland Software from $30.00 to $20.00 in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.63.

Upland Software Stock Performance

UPLD opened at $11.60 on Thursday. Upland Software has a 52-week low of $10.82 and a 52-week high of $39.90. The firm has a market capitalization of $363.32 million, a PE ratio of -6.27 and a beta of 0.70. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50-day simple moving average is $13.42 and its 200 day simple moving average is $15.55.

Upland Software (NASDAQ:UPLD – Get Rating) last released its earnings results on Wednesday, May 4th. The software maker reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Upland Software had a positive return on equity of 6.92% and a negative net margin of 18.57%. The business had revenue of $78.72 million for the quarter, compared to analyst estimates of $76.77 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. Upland Software’s revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts expect that Upland Software will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Upland Software

A number of large investors have recently modified their holdings of UPLD. M&T Bank Corp raised its position in Upland Software by 118.7% during the 2nd quarter. M&T Bank Corp now owns 34,172 shares of the software maker’s stock worth $496,000 after purchasing an additional 18,544 shares during the last quarter. Royce & Associates LP grew its stake in shares of Upland Software by 5.0% in the 2nd quarter. Royce & Associates LP now owns 221,056 shares of the software maker’s stock valued at $3,210,000 after buying an additional 10,500 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Upland Software in the 2nd quarter valued at about $158,000. Russell Investments Group Ltd. boosted its stake in Upland Software by 86.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 77,546 shares of the software maker’s stock valued at $1,125,000 after purchasing an additional 36,016 shares during the last quarter. Finally, First Dallas Securities Inc. boosted its stake in shares of Upland Software by 58.1% in the 2nd quarter. First Dallas Securities Inc. now owns 20,400 shares of the software maker’s stock worth $296,000 after buying an additional 7,500 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

About Upland Software

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Upland Software, Inc provides cloud-based enterprise work management software in the United States, the United Kingdom, Canada, and internationally. It offers a family of software applications under the Upland brand in the areas of marketing, sales, contact center, project management, information technology, business operations, and human resources and legal.

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