Unity Software (NYSE:U) Price Target Raised to $33.00 at Needham & Company LLC

Unity Software (NYSE:U) had its price target boosted by Needham & Company LLC from $26.00 to $33.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 18.05% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a research report on Thursday, February 13th. Barclays upped their price objective on Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Wells Fargo & Company assumed coverage on Unity Software in a report on Monday, October 28th. They set an “equal weight” rating and a $20.00 target price for the company. UBS Group upped their price target on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.68.

Unity Software Trading Up 30.2 %

Shares of Unity Software stock opened at $27.96 on Friday. Unity Software has a 1 year low of $13.90 and a 1 year high of $33.43. The company has a market capitalization of $11.26 billion, a price-to-earnings ratio of -13.70 and a beta of 2.32. The business has a fifty day simple moving average of $22.45 and a two-hundred day simple moving average of $20.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Unity Software (NYSE:U) last posted its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. Research analysts forecast that Unity Software will post -1.72 EPS for the current year.

Insiders Place Their Bets

In other Unity Software news, CAO Mark Barrysmith sold 1,395 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the completion of the transaction, the chief accounting officer now owns 450,881 shares of the company’s stock, valued at approximately $9,775,100.08. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 210,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.23, for a total transaction of $5,508,300.00. Following the completion of the transaction, the director now directly owns 967,650 shares of the company’s stock, valued at $25,381,459.50. This trade represents a 17.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 679,264 shares of company stock worth $16,612,383 over the last three months. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of U. Anderson Financial Strategies LLC bought a new stake in shares of Unity Software during the fourth quarter worth about $28,000. R Squared Ltd acquired a new stake in Unity Software during the 4th quarter worth approximately $30,000. Principal Securities Inc. grew its holdings in Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after acquiring an additional 477 shares during the last quarter. Planning Capital Management Corp acquired a new position in Unity Software in the 3rd quarter valued at approximately $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Unity Software in the 4th quarter valued at approximately $36,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Unity Software

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.