Scott Berg, an analyst from Needham, maintained the Buy rating on Upland Software. The associated price target is $4.50.
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Scott Berg has given his Buy rating due to a combination of factors, emphasizing that despite softer fourth-quarter results and a cautious initial fiscal 2026 outlook tied to weaker bookings, he still sees the go-to-market organization improving and positioning Upland for a return to organic revenue expansion excluding divestitures. He now anticipates revenue bottoming in the first quarter of 2026 and then gradually increasing over the balance of the year, suggesting the current weakness is cyclical rather than structural.
In addition, Berg highlights that management projects more than $20 million in free cash flow for 2026, even after accelerating approximately $4 million of collections into the fourth quarter, which underpins a solid cash-generation profile and provides valuation support. Taken together, the expected turn toward growth, improving execution, and resilient free cash flow lead him to view the current share price as attractive relative to long-term fundamentals, justifying his Buy recommendation on Upland Software.
According to TipRanks, Berg is an analyst with an average return of -8.2% and a 36.20% success rate. Berg covers the Technology sector, focusing on stocks such as Braze, Five9, and Workday.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $3.00 price target.