Unity Software Inc. (NYSE:U) Receives $45.16 Average Price Target from Brokerages

Unity Software Inc. (NYSE:U) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $45.1632.

Several equities research analysts have recently commented on U shares. Needham & Company LLC raised their target price on shares of Unity Software from $40.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Citigroup boosted their price target on shares of Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Piper Sandler increased their price target on shares of Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company raised their price objective on shares of Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 7th.

Insider Transactions at Unity Software

In related news, COO Alexander Blum sold 43,556 shares of Unity Software stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the sale, the chief operating officer directly owned 661,855 shares in the company, valued at $28,797,311.05. The trade was a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Rebecca Boyden sold 1,032 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the sale, the senior vice president directly owned 308,413 shares in the company, valued at approximately $13,977,277.16. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 109,547 shares of company stock worth $4,884,202 over the last 90 days. 0.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unity Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. REAP Financial Group LLC purchased a new stake in shares of Unity Software in the 4th quarter worth about $28,000. Larson Financial Group LLC lifted its position in Unity Software by 88.1% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after acquiring an additional 341 shares during the period. IFP Advisors Inc purchased a new position in Unity Software during the 3rd quarter valued at about $33,000. International Assets Investment Management LLC bought a new stake in Unity Software during the fourth quarter worth about $36,000. Finally, Summit Securities Group LLC purchased a new stake in Unity Software in the first quarter worth about $54,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of Unity Software stock opened at $41.63 on Wednesday. The business has a 50 day moving average of $36.58 and a 200 day moving average of $28.44. Unity Software has a 52 week low of $16.78 and a 52 week high of $52.15. The company has a market cap of $18.32 billion, a PE ratio of -30.61, a P/E/G ratio of 1.82 and a beta of 2.06. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.39. The business had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, equities research analysts forecast that Unity Software will post 0.55 earnings per share for the current year.

About Unity Software

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.