Upland Software (NASDAQ:UPLD) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Upland Software from a "buy" rating to a "hold" rating in an investor note, reflecting changing sentiment towards the stock.
• Despite the downgrade, other analysts have upgraded Upland Software, with Needham & Company and Craig Hallum issuing "buy" ratings and price targets of $4.50 and $3.50 respectively.
• Upland Software currently holds a market capitalization of approximately $81.42 million and operates in various sectors, providing cloud-based software applications.

Upland Software (NASDAQ:UPLD - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC raised shares of Upland Software from a "hold" rating to a "buy" rating and set a $4.50 price objective on the stock in a report on Thursday, August 21st. Craig Hallum raised shares of Upland Software from a "hold" rating to a "buy" rating and set a $3.50 price objective on the stock in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $4.00.

Upland Software Stock Performance

NASDAQ UPLD traded up $0.07 during trading on Friday, hitting $2.83. 316,072 shares of the company's stock traded hands, compared to its average volume of 885,186. The stock has a market capitalization of $81.42 million, a price-to-earnings ratio of 3.58 and a beta of 1.15. Upland Software has a 12-month low of $1.69 and a 12-month high of $5.64. The business has a 50 day moving average of $2.13 and a 200-day moving average of $2.46.

Institutional Investors Weigh In On Upland Software

Institutional investors and hedge funds have recently modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new stake in shares of Upland Software in the second quarter worth about $28,000. Kathmere Capital Management LLC purchased a new stake in shares of Upland Software in the first quarter worth about $31,000. NewEdge Advisors LLC increased its position 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 worth $34,000 after purchasing an additional 10,442 shares during the last quarter. R Squared Ltd increased its position in shares of Upland Software by 646.4% in the first quarter. R Squared Ltd now owns 13,510 shares of the software maker's stock worth $39,000 after purchasing an additional 11,700 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Upland Software in the first quarter worth approximately $55,000. 77.78% of the stock is owned by hedge funds and other institutional investors.

Upland Software Company Profile

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.