Unity Software (NYSE:U) Receives Outperform Rating from Wedbush

Unity Software (NYSE:U)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research report issued on Thursday, Benzinga reports. They presently have a $33.50 price objective on the stock. Wedbush’s price target would indicate a potential upside of 39.00% from the stock’s previous close.

Other analysts have also issued research reports about the stock. William Blair restated an “outperform” rating on shares of Unity Software in a research report on Tuesday, January 9th. The Goldman Sachs Group raised their target price on shares of Unity Software from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Stifel Nicolaus raised their target price on shares of Unity Software from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Macquarie lowered shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a report on Monday, February 12th. Finally, Needham & Company LLC decreased their price target on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and a consensus price target of $37.03.

Unity Software Price Performance

Shares of U traded down $0.45 during mid-day trading on Thursday, reaching $24.10. 1,153,017 shares of the company’s stock were exchanged, compared to its average volume of 9,578,295. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.85. The company has a 50-day simple moving average of $26.35 and a two-hundred day simple moving average of $30.32. Unity Software has a 52-week low of $22.20 and a 52-week high of $50.08. The company has a market cap of $9.42 billion, a price-to-earnings ratio of -11.16 and a beta of 2.39.

Unity Software (NYSE:U) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business had revenue of $609.27 million for the quarter, compared to analysts’ expectations of $551.01 million. During the same period last year, the business earned ($0.50) earnings per share. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, sell-side analysts predict that Unity Software will post -0.63 EPS for the current fiscal year.

Insider Activity at Unity Software

In related news, CMO Carol W. Carpenter sold 6,417 shares of Unity Software stock in a transaction on Monday, February 26th. The shares were sold at an average price of $32.57, for a total transaction of $209,001.69. Following the transaction, the chief marketing officer now owns 448,617 shares in the company, valued at approximately $14,611,455.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CMO Carol W. Carpenter sold 6,417 shares of Unity Software stock in a transaction on Monday, February 26th. The shares were sold at an average price of $32.57, for a total transaction of $209,001.69. Following the sale, the chief marketing officer now owns 448,617 shares of the company’s stock, valued at approximately $14,611,455.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Anirma Gupta sold 1,037 shares of Unity Software stock in a transaction on Monday, April 29th. The stock was sold at an average price of $24.42, for a total transaction of $25,323.54. Following the sale, the senior vice president now directly owns 386,706 shares in the company, valued at approximately $9,443,360.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 336,917 shares of company stock worth $9,412,460. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in U. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Unity Software by 6.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 289,686 shares of the company’s stock worth $7,988,000 after purchasing an additional 18,160 shares during the last quarter. Flynn Zito Capital Management LLC increased its position in shares of Unity Software by 16.0% in the 1st quarter. Flynn Zito Capital Management LLC now owns 7,954 shares of the company’s stock worth $212,000 after purchasing an additional 1,099 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Unity Software by 25.1% in the 1st quarter. Van ECK Associates Corp now owns 1,448,755 shares of the company’s stock worth $38,682,000 after purchasing an additional 290,476 shares during the last quarter. HB Wealth Management LLC bought a new stake in shares of Unity Software in the 1st quarter worth about $1,551,000. Finally, Arkadios Wealth Advisors increased its position in shares of Unity Software by 8.3% in the 1st quarter. Arkadios Wealth Advisors now owns 12,043 shares of the company’s stock worth $322,000 after purchasing an additional 924 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Company Profile

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.