Upland Software (NASDAQ:UPLD) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Upland Software, Inc. (NASDAQ:UPLD)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.69 and traded as high as $0.89. Upland Software shares last traded at $0.7981, with a volume of 317,520 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lowered their target price on shares of Upland Software from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Upland Software has a consensus rating of “Moderate Buy” and a consensus price target of $3.67.

Upland Software Stock Down 3.0%

The firm has a market cap of $23.43 million, a PE ratio of -1.14 and a beta of 1.22. The company’s fifty day moving average price is $0.69 and its two-hundred day moving average price is $1.13.

Upland Software (NASDAQ:UPLD) last issued its earnings results on Friday, May 1st. The software maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The business had revenue of $48.69 million for the quarter, compared to the consensus estimate of $48.50 million. Upland Software had a negative net margin of 7.08% and a negative return on equity of 51.46%.

Institutional Trading of Upland Software

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its stake in shares of Upland Software by 697.1% in the first quarter. NewEdge Advisors LLC now owns 11,940 shares of the software maker’s stock valued at $34,000 after purchasing an additional 10,442 shares during the period. XTX Topco Ltd lifted its stake in shares of Upland Software by 63.5% in the second quarter. XTX Topco Ltd now owns 28,797 shares of the software maker’s stock valued at $56,000 after purchasing an additional 11,187 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Upland Software by 15.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 103,825 shares of the software maker’s stock valued at $148,000 after purchasing an additional 13,585 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Upland Software in the third quarter valued at about $32,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Upland Software in the third quarter valued at about $34,000. Institutional investors and hedge funds own 77.78% of the company’s stock.

About Upland Software

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.