Unity Software (NYSE:U) Price Target Raised to $16.00

by · The Cerbat Gem

Unity Software (NYSE:U – Free Report) had its price target boosted by Macquarie from $15.00 to $16.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an underperform rating on the stock.

A number of other equities research analysts also recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. UBS Group upped their price objective on Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wedbush upped their price objective on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Morgan Stanley upgraded Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research report on Tuesday, September 3rd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Unity Software in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.35.

Get Our Latest Research Report on Unity Software

Unity Software Price Performance

NYSE:U opened at $20.50 on Friday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $8.14 billion, a P/E ratio of -10.05 and a beta of 2.29. Unity Software has a 12 month low of $13.90 and a 12 month high of $43.54. The business’s 50-day moving average is $20.42 and its 200 day moving average is $18.91.

Unity Software (NYSE:U – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%. The business had revenue of $449.30 million for the quarter, compared to the consensus estimate of $438.37 million. During the same period in the prior year, the business posted ($0.26) earnings per share. The company’s quarterly revenue was down 15.8% compared to the same quarter last year. On average, equities research analysts forecast that Unity Software will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Helgason sold 250,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Unity Software news, SVP Felix The sold 30,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the sale, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 281,600 shares of company stock valued at $5,714,000 over the last quarter. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Unity Software

Hedge funds have recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Unity Software by 295.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,398 shares of the company’s stock valued at $331,000 after purchasing an additional 9,262 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Unity Software during the 1st quarter valued at $331,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Unity Software during the 1st quarter valued at $3,878,000. Atomi Financial Group Inc. lifted its holdings in shares of Unity Software by 14.7% during the 1st quarter. Atomi Financial Group Inc. now owns 8,972 shares of the company’s stock valued at $240,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Unity Software by 9.6% during the 1st quarter. Russell Investments Group Ltd. now owns 12,752 shares of the company’s stock valued at $340,000 after purchasing an additional 1,113 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

About Unity Software

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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.

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