Upland Software (NASDAQ:UPLD) Stock Price Target Lowered at Needham & Company LLC

Upland Software (NASDAQ:UPLD) had its price target dropped by equities researchers at Needham & Company LLC from $10.00 to $6.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Needham & Company LLC‘s price objective would suggest a potential upside of 61.46% from the company’s previous close.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Upland Software in a research note on Friday, September 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.50.

Upland Software Stock Performance

NASDAQ:UPLD traded down $0.98 during trading hours on Thursday, reaching $3.72. The company’s stock had a trading volume of 43,813 shares, compared to its average volume of 37,617. The firm has a market capitalization of $10.99 million, a price-to-earnings ratio of -0.26 and a beta of 1.42. The firm has a 50-day simple moving average of $3.70 and a 200-day simple moving average of $6.38. Upland Software has a 1 year low of $2.75 and a 1 year high of $21.50.

Upland Software (NASDAQ:UPLD) last announced its quarterly earnings data on Wednesday, November 4th. The software maker reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.11. Upland Software had a negative return on equity of 46.06% and a negative net margin of 18.50%. The firm had revenue of $47.53 million for the quarter, compared to analysts’ expectations of $47.20 million.

Hedge Funds Weigh In On Upland Software

A hedge fund recently raised its stake in Upland Software stock. Rice Hall James & Associates LLC increased its position in Upland Software, Inc. (NASDAQ:UPLD) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 974,448 shares of the software maker’s stock after acquiring an additional 80,751 shares during the period. Rice Hall James & Associates LLC owned about 3.32% of Upland Software worth $649,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 77.78% of the company’s stock.

About Upland Software

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.