In a report released today, David Hynes from Canaccord Genuity maintained a Buy rating on Upland Software (UPLD), with a price target of $50.00. The company’s shares closed last Thursday at $49.60, close to its 52-week high of $51.48.
According to TipRanks.com, Hynes is a top 100 analyst with an average return of 33.0% and a 75.8% success rate. Hynes covers the Technology sector, focusing on stocks such as ZoomInfo Technologies, BigCommerce Holdings, and Slack Technologies.
Currently, the analyst consensus on Upland Software is a Strong Buy with an average price target of $55.40, representing a 14.5% upside. In a report issued on November 3, Raymond James also reiterated a Buy rating on the stock with a $49.00 price target.
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Based on Upland Software’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $71.32 million and GAAP net loss of $14.16 million. In comparison, last year the company earned revenue of $53.01 million and had a GAAP net loss of $5.37 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of UPLD in relation to earlier this year.
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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: Project & Information Technology Management, Workflow Automation, and Digital Engagement. The company was founded by John T. McDonald in July 2010 and is headquartered in Austin, TX.
