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

Unity Software (NYSE:UGet Free Report)‘s stock had its “outperform” rating restated by Wedbush in a report released on Friday,Benzinga reports. They presently have a $30.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 75.81% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Unity Software in a research report on Wednesday, January 21st. BTIG Research lowered their price target on Unity Software from $41.00 to $39.00 and set a “buy” rating for the company in a report on Friday. Jefferies Financial Group increased their price target on shares of Unity Software from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Freedom Capital raised shares of Unity Software to a “strong-buy” rating in a report on Thursday, January 15th. Finally, Piper Sandler upgraded shares of Unity Software from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $43.00 to $59.00 in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Read Our Latest Research Report on U

Unity Software Stock Performance

NYSE:U opened at $17.06 on Friday. Unity Software has a 12 month low of $15.33 and a 12 month high of $52.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $7.39 billion, a PE ratio of -17.78, a price-to-earnings-growth ratio of 9.55 and a beta of 2.14. The business’s fifty day moving average price is $24.77 and its 200 day moving average price is $35.99.

Unity Software (NYSE:UGet Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $503.09 million during the quarter, compared to the consensus estimate of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.Unity Software’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. On average, sell-side analysts anticipate that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In other news, CFO Jarrod Yahes sold 6,205 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $21.03, for a total value of $130,491.15. Following the completion of the sale, the chief financial officer directly owned 728,381 shares of the company’s stock, valued at approximately $15,317,852.43. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Alexander Blum sold 2,541 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $18.76, for a total transaction of $47,669.16. Following the transaction, the chief operating officer owned 548,425 shares in the company, valued at approximately $10,288,453. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,684 shares of company stock valued at $773,350 in the last three months. 3.61% of the stock is currently owned by company insiders.

Institutional Trading of Unity Software

A number of large investors have recently bought and sold shares of the business. Root Financial Partners LLC purchased a new position in Unity Software during the 3rd quarter worth $27,000. REAP Financial Group LLC purchased a new position in shares of Unity Software during the fourth quarter worth about $28,000. Larson Financial Group LLC grew its holdings in shares of Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after buying an additional 341 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Unity Software in the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc acquired a new position in Unity Software in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software News Summary

Here are the key news stories impacting Unity Software this week:

Unity Software Company Profile

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Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

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Analyst Recommendations for Unity Software (NYSE:U)

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