Traders Bought The Dip On $UPLD

UPLD saw a nice bounce on Friday off the lows as traders bought the dip after UPLD reported disappointing earnings. Here are the highlights of that report:

Upland Software (NASDAQ:UPLD): Q3 Non-GAAP EPS of $0.52 misses by $0.06; GAAP EPS of -$0.50 misses by $0.18.

Revenue of $55.1M (+48.5% Y/Y) misses by $0.32M.

UPLD is now trading at just 13x earnings. Credit Suisse came out last week before earnings and gave UPLD a $48 price target.

Upland Software, Inc. provides cloud-based enterprise work management software in the United States, the United Kingdom, Canada, and internationally. The company offers a family of software applications under the Upland brand in the areas of information technology, process excellence, finance, professional services, and marketing. Its software applications address enterprise work challenges in various categories comprising customer experience management, sales enablement solutions, professional services automation, project and financial management, enterprise knowledge management, secure document services, and document lifecycle automation. The company sells its products through a direct sales organization, as well as through an indirect sales organization that sells to distributors and value-added resellers. It serves customers across a range of industries, including financial services, retail, technology, manufacturing, legal, education, consumer goods, media, telecommunications, government, food and beverage, healthcare, and life sciences, as well as non-profit organizations. The company was formerly known as Silverback Enterprise Group, Inc. and changed its name to Upland Software, Inc. in November 2013. Upland Software, Inc. was founded in 2010 and is headquartered in Austin, Texas.

As always, trade with caution and use protective stops.

Good luck to all!