Upland Software (NASDAQ:UPLD) Raised to "Buy" at Craig Hallum

Key Points

• Upland Software was upgraded from a "hold" rating to a "buy" rating by Craig Hallum, with a price target of $3.50, indicating a potential upside of 70.73% from its current price.
• Institutional investors own 77.78% of Upland Software's stock, with several adding to their positions in the fourth quarter, highlighting increasing interest from larger financial players.
• The company's shares recently opened at $2.05 and have shown significant volatility over the past year, with a 52-week range of $1.69 to $5.64.

Upland Software (NASDAQ:UPLD - Get Free Report) was upgraded by Craig Hallum from a "hold" rating to a "buy" rating in a report released on Friday, Marketbeat.com reports. The brokerage currently has a $3.50 target price on the software maker's stock. Craig Hallum's price objective would suggest a potential upside of 73.27% from the stock's previous close.

Several other brokerages have also recently commented on UPLD. Wall Street Zen upgraded shares of Upland Software from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Upland Software in a research note on Tuesday, May 13th.

Upland Software Price Performance

Upland Software stock traded down $0.02 during mid-day trading on Friday, reaching $2.02. 100,999 shares of the company traded hands, compared to its average volume of 171,657. Upland Software has a fifty-two week low of $1.69 and a fifty-two week high of $5.64. The company has a market capitalization of $58.12 million, a price-to-earnings ratio of -1.13 and a beta of 1.18. The firm's fifty day moving average is $1.95 and its two-hundred day moving average is $2.71.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in UPLD. Prudential Financial Inc. acquired a new position in shares of Upland Software during the 4th quarter worth approximately $95,000. JPMorgan Chase & Co. acquired a new stake in shares of Upland Software in the fourth quarter worth approximately $61,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Upland Software in the fourth quarter worth approximately $812,000. Renaissance Technologies LLC boosted its stake in shares of Upland Software by 22.8% in the fourth quarter. Renaissance Technologies LLC now owns 358,808 shares of the software maker's stock worth $1,557,000 after acquiring an additional 66,684 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Upland Software in the fourth quarter worth approximately $498,000. 77.78% of the stock is owned by institutional investors and hedge funds.

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.