Jefferies Financial Group Forecasts Strong Price Appreciation for Unity Software (NYSE:U) Stock

by · The Markets Daily

Unity Software (NYSE:U – Get Free Report) had its price objective lifted by research analysts at Jefferies Financial Group from $49.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 22.33% from the company’s current price.

U has been the topic of several other reports. Wedbush upped their price objective on Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, December 2nd. The Goldman Sachs Group began coverage on Unity Software in a research note on Wednesday, October 15th. They set a “neutral” rating and a $38.00 price target for the company. Needham & Company LLC lifted their target price on shares of Unity Software from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Wells Fargo & Company upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $42.00 to $51.00 in a research note on Friday, December 5th. Finally, Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.16.

Read Our Latest Research Report on U

Unity Software Stock Up 1.6%

Shares of Unity Software stock traded up $0.71 during trading hours on Monday, hitting $44.96. The company had a trading volume of 1,231,882 shares, compared to its average volume of 3,075,458. The company’s 50-day moving average is $42.46 and its two-hundred day moving average is $38.13. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.78. Unity Software has a twelve month low of $15.33 and a twelve month high of $52.15. The company has a market cap of $19.24 billion, a P/E ratio of -42.68, a price-to-earnings-growth ratio of 46.38 and a beta of 2.04.

Unity Software (NYSE:U – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The firm had revenue of $470.62 million during the quarter, compared to the consensus estimate of $452.87 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. Unity Software’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts anticipate that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Unity Software news, COO Alexander Blum sold 40,693 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total value of $1,683,876.34. Following the completion of the transaction, the chief operating officer directly owned 563,118 shares in the company, valued at approximately $23,301,822.84. This represents a 6.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Helgason sold 393,312 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $49.64, for a total transaction of $19,524,007.68. Following the transaction, the director directly owned 5,439,173 shares of the company’s stock, valued at $270,000,547.72. The trade was a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,651,471 shares of company stock worth $75,307,029. Company insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in shares of Unity Software in the 3rd quarter worth about $27,000. Larson Financial Group LLC increased its holdings in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after purchasing an additional 341 shares in the last quarter. IFP Advisors Inc acquired a new position in Unity Software in the third quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd bought a new position in Unity Software during the third quarter worth $38,000. Finally, Salem Investment Counselors Inc. bought a new stake in Unity Software in the third quarter valued at $40,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

(Get Free Report)

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.

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