$76.70 million in sales expected for Upland Software, Inc. (NASDAQ:UPLD) this quarter
Analysts expect Upland Software, Inc. (NASDAQ:UPLD – Get 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:UPLD – Get 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.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
Receive daily news and reviews for Upland Software – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Upland Software and related companies with MarketBeat.com’s free daily email newsletter.