Upland Software Receives a New Rating from Top Analyst

By Austin Angelo

Canaccord Genuity analyst Richard Davis reiterated a Buy rating on Upland Software (NASDAQ: UPLD) yesterday and set a price target of $11. The company’s shares opened today at $8.75.

According to TipRanks.com, Davis is a top 100 analyst with an average return of 8.8% and a 58.9% success rate. Davis covers the Technology sector, focusing on stocks such as Bottomline Technologies, Nuance Communications, and Ultimate Software.

Currently, the analyst consensus on Upland Software is Moderate Buy and the average price target is $11, representing a 25.7% upside.

In a report released today, Needham also reiterated a Buy rating on the stock with a $11 price target.

Based on Upland Software’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $18.57 million and GAAP net loss of $3.58 million. In comparison, last year the company earned revenue of $17.11 million and had a GAAP net loss of $2.32 million.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of UPLD in relation to earlier this year. Most recently, in August 2016, Esw Capital, Llc, a Major Shareholder at UPLD bought 15,122 shares for a total of $116,319.

Upland Software, Inc. engages in the provision of cloud-based enterprise work management software applications for the information technology, marketing, finance, professional services, and process functions within organizations. Its applications address enterprise work challenges in the following categories: Program and Portfolio management, Project management and collaboration, Digital engagement management, Professional services automation, Workflow automation and Financial management. The company was founded by John T. McDonald in July 2010 and is headquartered in Austin, TX.