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 $34.23.
Davis said:
“Upland’s results were respectable, but as we noted in our preview, you should not buy UPLD if you are looking for unwavering guided and unguided metrics because this firm is about building a materially larger, significantly profitable business via acquisition and some organic growth. Management noted that organic growth was 6%, which – while there are too many moving parts for us to accurately model that progress – is certainly a good thing. Meanwhile, Upland presented to a well-attended general session room at our conference yesterday and we ground management into the dust with a full day of non-stop 1-on-1s. Our opinion on UPLD has not changed from the favorable view we held going into this print: this is an attractive stock for investors who are intrigued by the opportunity to participate in a consolidation story in a sector that is ripe for doing so. BUY.”
According to TipRanks.com, Davis is a top 25 analyst with an average return of 37.0% and a 85.1% success rate. Davis covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Altair Engineering Inc, and Salesforce.com.
Upland Software has an analyst consensus of Strong Buy, with a price target consensus of $40.40, a 18.0% upside from current levels. In a report issued on August 8, SunTrust Robinson also reiterated a Buy rating on the stock with a $41 price target.
.
See today’s analyst top recommended stocks >>
The company has a one-year high of $37.44 and a one-year low of $18.52. Currently, Upland Software has an average volume of 239.3K.
Based on the recent corporate insider activity of 52 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. Earlier this month, 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.
