Unity Software’s (U) Buy Rating Reiterated at Needham & Company LLC

Unity Software (NYSE:U)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $35.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 105.11% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Citizens Jmp dropped their target price on shares of Unity Software from $50.00 to $37.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. Citigroup lowered their price target on shares of Unity Software from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Oppenheimer raised shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Tuesday, February 10th. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Finally, Benchmark reaffirmed a “hold” rating on shares of Unity Software in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Unity Software has a consensus rating of “Moderate Buy” and a consensus target price of $38.83.

Unity Software Stock Down 4.1%

U opened at $17.06 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $7.39 billion, a price-to-earnings ratio of -17.78, a PEG ratio of 9.55 and a beta of 2.14. Unity Software has a one year low of $15.33 and a one year high of $52.15. The business’s fifty day moving average is $24.77 and its two-hundred day moving average is $35.99.

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

Insider Buying and Selling at Unity Software

In other news, COO Alexander Blum sold 10,164 shares of Unity Software stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $183,663.48. Following the completion of the sale, the chief operating officer directly owned 550,966 shares in the company, valued at $9,955,955.62. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mark Barrysmith sold 10,578 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $191,144.46. Following the completion of the transaction, the chief accounting officer directly owned 383,901 shares of the company’s stock, valued at approximately $6,937,091.07. This represents a 2.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 41,684 shares of company stock worth $773,350. Corporate insiders own 3.61% of the company’s stock.

Institutional Trading of Unity Software

Hedge funds and other institutional investors have recently bought and sold shares of the company. REAP Financial Group LLC purchased a new position in shares of Unity Software in the 4th quarter worth $28,000. Root Financial Partners LLC purchased a new stake in Unity Software during the third quarter valued at about $27,000. V Square Quantitative Management LLC purchased a new stake in Unity Software during the fourth quarter valued at about $30,000. Larson Financial Group LLC increased its stake in 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 acquiring an additional 341 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Unity Software during the fourth quarter worth about $36,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.