8 Cloud Computing Stocks Under $10

6) Upland Software, Inc. (NASDAQ:UPLD)

Share Price as of November 26: $3.87

Number of Hedge Fund Holders: 10

Upland Software, Inc. (NASDAQ:UPLD) offers cloud-based software applications that enable its customers to drive digital transformation. The company derives its subscription revenue from fees paid by the customers for using its cloud-based applications. In Q3 2024, Upland Software, Inc. (NASDAQ:UPLD)’s subscription and support revenues comprised 96% of the total revenues. The company welcomed 122 new customers in the quarter, including 18 new major customers. It expanded relationships with 312 existing customers, 27 of which were major expansions. These new and expanded relationships were seen throughout its portfolio.

For Q4 2024, Upland Software, Inc. (NASDAQ:UPLD) expects adjusted EBITDA in the range of $13.4 million and $16.4 million, for an adjusted EBITDA margin of 22% at the midpoint. This Adjusted EBITDA guide at the midpoint reflects an increase of 6% YoY. The annual costs will continue to decrease as Upland Software, Inc. (NASDAQ:UPLD) targets increased EBITDA.  Moreover, investments in customer success should continue to drive higher renewal rates and product utilization.

The company announced the availability of Upland BA Insight for Microsoft Azure AI Search in the Microsoft Azure Marketplace. Upland BA Insight’s AI-powered content search brings intelligent search capabilities to the everyday hunt for relevant results. This aligns with a broader push to enhance the Upland Software, Inc. (NASDAQ:UPLD)’s product suite’s relevance in modern enterprise environments. The company’s acquisition strategy remains key to its growth as it targets businesses with established cloud-native products and significant client bases. Upland Software, Inc. (NASDAQ:UPLD)’s acquisition of Qvidian Corporation and RO Innovation strengthens its sales productivity portfolio.

While Qvidian supports RFP response automation, RO Innovation emphasizes customer reference management. The average 12-month price target on the shares of Upland Software, Inc. (NASDAQ:UPLD) is $5.00, as per Wall Street.