$76.70 million in sales expected for Upland Software, Inc. (NASDAQ:UPLD) this quarter


Analysts expect Upland Software, Inc. (NASDAQ:UPLDGet a rating) will report sales of $76.70 million for the current fiscal quarter, Zacks reports. Five analysts made estimates of Upland Software’s earnings. The lowest sales estimate is $76.20 million and the highest is $77.16 million. Upland Software reported sales of $73.97 million in the same quarter last year, indicating a positive year-over-year growth rate of 3.7%. The company is expected to release its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect Upland Software to report annual sales of $317.97 million for the current fiscal year, with estimates ranging from $314.74 million to $320.25 million. For the next fiscal year, analysts expect the company to post sales of $333.70 million, with estimates ranging from $327.90 million to $337.53 million. Zacks Investment Research sales calculations are an average based on a survey of research analysts who provide coverage for Upland Software.

Mountain software (NASDAQ:UPLDGet a rating) last announced its results on Thursday, February 24. The software maker reported EPS of $0.28 for the quarter, beating consensus analyst estimates of $0.14 from $0.14. Upland Software posted a positive return on equity of 5.80% and a negative net margin of 19.27%. The company posted revenue of $75.73 million in the quarter, compared to $75.44 million expected by analysts. In the same quarter a year earlier, the company had earned earnings per share of $0.29. The company’s revenues were down 3.2% from the same quarter last year.

UPLD has been the subject of several recent research reports. Raymond James cut his price target on Upland Software from $35.00 to $30.00 and set an “outperform” rating for the company in a Tuesday, January 11 report. Canaccord Genuity Group reduced its price target on Upland Software from $30.00 to $24.00 in a Friday, February 25 report. Truist Financial reduced its price target on Upland Software from $44.00 to $30.00 in a Tuesday, January 11 report. Zacks Investment Research upgraded Upland Software from a “buy” rating to a “hold” rating in a Tuesday, March 15 report. Finally, Craig Hallum reduced his price target on Upland Software from $32.00 to $22.00 in a Tuesday, January 11 report. Four research analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat, Upland Software currently has an average rating of “Buy” and an average target price of $28.33.

Shares of Upland Software Stock traded down $0.26 during midday trading on Wednesday, hitting $16.14. 126,936 shares of the stock trade in hands, compared to its average volume of 218,511. The company has a 50-day moving average of $17.41 and a 200-day moving average of $21.58. Upland Software has a fifty-two week minimum of $15.08 and a fifty-two week maximum of $53.00. The company has a debt ratio of 1.63, a current ratio of 1.68 and a quick ratio of 1.68.

Institutional investors and hedge funds have recently increased or reduced their stake in the company. BlackRock Inc. increased its position in Upland Software shares by 1.5% during the third quarter. BlackRock Inc. now owns 1,828,309 shares of the software maker worth $61,138,000 after purchasing an additional 27,103 shares during the period. New South Capital Management Inc. increased its stake in Upland Software by 24.9% in the third quarter. New South Capital Management Inc. now owns 731,290 shares of the software maker valued at $24,455,000 after purchasing an additional 145,727 shares during the period. Barclays PLC increased its stake in Upland Software by 5.0% in the third quarter. Barclays PLC now owns 18,164 shares of the software maker valued at $607,000 after buying an additional 870 shares during the period. Rice Hall James & Associates LLC increased its stake in Upland Software by 2.4% in the third quarter. Rice Hall James & Associates LLC now owns 35,887 shares of the software maker valued at $1,200,000 after purchasing an additional 839 shares during the period. Finally, Martingale Asset Management LP increased its stake in Upland Software by 194.9% in the third quarter. Martingale Asset Management LP now owns 27,773 shares of the software maker valued at $930,000 after buying an additional 18,355 shares during the period. Institutional investors and hedge funds hold 76.02% of the company’s shares.

About Upland Software (Get a rating)

Upland Software, Inc provides cloud-based enterprise work management software in the US, UK, Canada and internationally. It offers a family of software applications under the Upland brand in the areas of marketing, sales, contact centers, project management, information technology, business operations, human resources and legal.

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