Upland Software (NASDAQ:UPLD) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

Upland Software, Inc. (NASDAQ:UPLD) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 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.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reduced their price objective on shares of Upland Software from $50.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Three research 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.com, Upland Software currently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Upland Software Trading Down 3.8%

The company has a 50 day moving average of $7.11 and a 200 day moving average of $9.68. The firm has a market cap of $12.67 million, a price-to-earnings ratio of -0.62 and a beta of 1.36.

Upland Software (NASDAQ:UPLD) last issued its quarterly earnings data on Friday, May 1st. The software maker reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.30. Upland Software had a negative return on equity of 51.46% and a negative net margin of 7.08%.The company had revenue of $48.69 million during the quarter, compared to analysts’ expectations of $48.50 million.

Institutional Trading of Upland Software

Several hedge funds have recently modified their holdings of UPLD. Dimensional Fund Advisors LP bought a new position in shares of Upland Software in the third quarter valued at approximately $32,000. Dynamic Technology Lab Private Ltd acquired a new stake in Upland Software during the 3rd quarter valued at $34,000. NewEdge Advisors LLC raised its position in Upland Software by 697.1% in the 1st 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 last quarter. Centiva Capital LP bought a new position in Upland Software in the 3rd quarter valued at $52,000. Finally, XTX Topco Ltd acquired a new position in Upland Software in the fourth quarter worth $56,000. Institutional investors and hedge funds 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.