Canaccord Genuity Keeps a Buy Rating on Upland Software (UPLD)


Canaccord Genuity analyst Richard Davis maintained a Buy rating on Upland Software (NASDAQ: UPLD) today and set a price target of $40. The company’s shares opened today at $33.16.

Davis noted:

“We find this transaction significant for three reasons: (1) it is the firm’s largest to date, consistent with our view that UPLD’s deals are likely to get bigger on the margin as the firm moves toward interim financial targets; (2) the addition of voice of the customer (VoC) and voice of the employee (VoE) applications gives UPLD a footing in what is a leading edge and fast- growing part of the CX stack; and (3) the acquisition adds an established sales channel for UPLD’s other messaging solutions in Europe as well as a cross-sell opportunity for R&R in the U.S. Consistent with most of UPLD’s other transactions, this deal is expected to be immediately accretive and the price paid falls within the firm’s targeted 5-8x pro- forma Adjusted EBITDA once integrated (in this case, it’s about 6.8x).”

According to TipRanks.com, Davis is a top 25 analyst with an average return of 39.8% and a 83.5% success rate. Davis covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Altair Engineering Inc, and Salesforce.com.

Currently, the analyst consensus on Upland Software is a Strong Buy with an average price target of $41.

See today’s analyst top recommended stocks >>

The company has a one-year high of $38.30 and a one-year low of $18.52. Currently, Upland Software has an average volume of 200.2K.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Timothy Mattox, the President & COO of UPLD bought 15,860 shares for a total of $138,299.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts