What Happened:
Shares of business automation software provider Upland Software (NASDAQ: UPLD) jumped 6% in the morning session after the company reported first-quarter revenue, earnings per share, and free cash flow that exceeded analysts' expectations. However, revenue guidance for the next quarter was below Consensus, though the full-year guidance beat. Overall, it was a decent quarter for the company, and considering the positive reaction to the results, it seemed the market was less focused on the soft near-term outlook and reassured that the full year guide was fine.
What is the market telling us:
Upland's shares are a little volatile and over the last year have had 40 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Upland is down 48.5% since the beginning of the year, and at $3.70 per share it is trading 76.6% below its 52-week high of $15.76 from June 2022. Investors who bought $1,000 worth of Upland's shares 5 years ago would now be looking at an investment worth $128.16.
Is now the time to buy Upland? Access our full analysis of the earnings results here, it's free.