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

Upland Software (NASDAQ:UPLD) had its target price trimmed by Canaccord Genuity Group from $7.00 to $5.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Several other research analysts have also recently issued reports on UPLD. William Blair reaffirmed an outperform rating on shares of Upland Software in a research report on Friday. StockNews.com lowered shares of Upland Software from a buy rating to a hold rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC reiterated a hold rating on shares of Upland Software in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $4.17.

Upland Software Stock Performance

NASDAQ UPLD opened at $2.46 on Friday. Upland Software has a 52 week low of $1.89 and a 52 week high of $5.28. The firm has a 50 day moving average of $2.58 and a two-hundred day moving average of $3.69. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 23.49.

Hedge Funds Weigh In On Upland Software

Institutional investors have recently bought and sold shares of the company. Pingora Partners LLC acquired a new stake in Upland Software in the fourth quarter valued at $50,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Upland Software during the first quarter worth $37,000. Mackenzie Financial Corp purchased a new position in shares of Upland Software in the third quarter valued at $54,000. Oxford Asset Management LLP purchased a new stake in shares of Upland Software in the 4th quarter worth about $52,000. Finally, Pathstone Family Office LLC purchased a new position in Upland Software during the 3rd quarter valued at about $108,000. 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.