Canaccord Genuity Group Trims Upland Software (NASDAQ:UPLD) Target Price to $5.00

Upland Software (NASDAQ:UPLD - Get Free Report) had its price target lowered by equities researchers at Canaccord Genuity Group from $7.00 to $5.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the software maker's stock. Canaccord Genuity Group's price objective would suggest a potential upside of 93.05% from the company's previous close.

A number of other brokerages have also recently issued reports on UPLD. William Blair reaffirmed an "outperform" rating on shares of Upland Software in a report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Upland Software in a report on Friday. Finally, StockNews.com cut Upland Software from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.13.

Upland Software Price Performance

Shares of UPLD stock traded up $0.57 on Friday, hitting $2.59. 20,268,560 shares of the company's stock were exchanged, compared to its average volume of 442,541. Upland Software has a 12 month low of $1.89 and a 12 month high of $5.28. The company has a 50 day moving average of $2.59 and a 200 day moving average of $3.70. The company has a debt-to-equity ratio of 3.75, a current ratio of 2.30 and a quick ratio of 2.30. The stock has a market cap of $72.16 million, a P/E ratio of -0.45 and a beta of 1.01.

Institutional Investors Weigh In On Upland Software

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Upland Software in the first quarter valued at about $37,000. Pingora Partners LLC acquired a new stake in shares of Upland Software in the fourth quarter valued at about $50,000. Oxford Asset Management LLP acquired a new stake in shares of Upland Software in the fourth quarter valued at about $52,000. Mackenzie Financial Corp acquired a new stake in shares of Upland Software in the third quarter valued at about $54,000. Finally, Pathstone Family Office LLC acquired a new stake in shares of Upland Software in the third quarter valued at about $108,000. Institutional investors and hedge funds own 77.78% of the company's stock.

About Upland Software

Upland Software, Inc, together with its subsidiaries, provides cloud-based software applications under the Upland brand name in the United States, the United Kingdom, Canada, and internationally. It offers software applications that enable organizations to plan, manage and execute projects, and work in the areas of marketing, sales, contact center, knowledge management, project management, information technology, business operations, human resources, and legal.

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