Upland Software (NASDAQ:UPLD) Cut to "Hold" at 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 investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

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

Upland Software Stock Performance

NASDAQ:UPLD traded down $0.33 during mid-day trading on Friday, reaching $2.39. The stock had a trading volume of 289,524 shares, compared to its average volume of 881,774. The stock has a market capitalization of $68.76 million, a P/E ratio of -1.34 and a beta of 1.15. The firm has a 50 day moving average price of $2.18 and a two-hundred day moving average price of $2.45. Upland Software has a one year low of $1.69 and a one year high of $5.64.

Hedge Funds Weigh In On Upland Software

Hedge funds have recently modified their holdings of the company. D. E. Shaw & Co. Inc. raised its stake in shares of Upland Software by 13.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,301,061 shares of the software maker's stock valued at $5,647,000 after acquiring an additional 154,667 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Upland Software by 106.8% during the 4th quarter. Two Sigma Advisers LP now owns 406,400 shares of the software maker's stock valued at $1,764,000 after purchasing an additional 209,900 shares during the period. Man Group plc raised its position in Upland Software by 33.5% during the 4th quarter. Man Group plc now owns 398,800 shares of the software maker's stock valued at $1,731,000 after purchasing an additional 100,157 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Upland Software by 111.1% in the 4th quarter. Two Sigma Investments LP now owns 321,583 shares of the software maker's stock worth $1,396,000 after buying an additional 169,240 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in Upland Software by 46.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 241,200 shares of the software maker's stock worth $1,047,000 after buying an additional 76,800 shares during the period. Hedge funds and other institutional investors 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.