Unity Software (NYSE:U) Stock Price Expected to Rise, Wedbush Analyst Says

Unity Software (NYSE:U) had its price objective increased by investment analysts at Wedbush from $41.00 to $42.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 10.27% from the company’s previous close.

Several other equities research analysts also recently commented on U. Hsbc Global Res downgraded Unity Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. HSBC lowered Unity Software from a “buy” rating to a “hold” rating and lifted their price target for the stock from $37.50 to $40.80 in a report on Tuesday, September 30th. Barclays upped their price objective on Unity Software from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. JMP Securities lifted their target price on Unity Software from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Finally, BTIG Research downgraded shares of Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 price target on the stock. in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Unity Software presently has an average rating of “Hold” and an average target price of $32.12.

Unity Software Trading Up 0.5%

Shares of Unity Software stock traded up $0.20 on Monday, hitting $38.09. The stock had a trading volume of 876,482 shares, compared to its average volume of 12,188,021. The firm has a market capitalization of $16.09 billion, a P/E ratio of -36.13 and a beta of 2.32. The stock has a 50 day moving average of $39.46 and a 200 day moving average of $29.16. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. Unity Software has a twelve month low of $15.33 and a twelve month high of $46.94.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The firm had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) EPS. Sell-side analysts expect that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In other Unity Software news, COO Alexander Blum sold 63,813 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $39.41, for a total value of $2,514,870.33. Following the completion of the sale, the chief operating officer owned 603,811 shares of the company’s stock, valued at $23,796,191.51. This represents a 9.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $39.83, for a total transaction of $9,957,500.00. Following the completion of the transaction, the director owned 1,548,146 shares in the company, valued at approximately $61,662,655.18. The trade was a 13.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,334,426 shares of company stock worth $98,130,784 in the last quarter. 3.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unity Software

A number of institutional investors have recently bought and sold shares of the stock. CX Institutional bought a new stake in Unity Software in the second quarter worth $25,000. Atlantic Union Bankshares Corp bought a new stake in shares of Unity Software during the 2nd quarter valued at $28,000. Cornerstone Planning Group LLC boosted its stake in shares of Unity Software by 30,300.0% in the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock worth $25,000 after acquiring an additional 1,212 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Unity Software during the 3rd quarter worth approximately $60,000. Finally, Banque Transatlantique SA bought a new stake in shares of Unity Software in the 1st quarter worth about $28,000. 73.46% of the stock is owned by institutional investors.

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.