Unity Software Inc. (NYSE:U) Receives $39.73 Consensus Price Target from Brokerages

Unity Software Inc. (NYSE:U) has been assigned an average rating of “Moderate Buy” from the twenty-three research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $39.7263.

A number of brokerages recently weighed in on U. Bank of America upgraded Unity Software from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $18.00 to $19.00 in a research note on Tuesday, March 3rd. Freedom Capital upgraded shares of Unity Software to a “strong-buy” rating in a report on Thursday, January 15th. Barclays reduced their target price on shares of Unity Software from $35.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Unity Software in a report on Wednesday, February 11th. Finally, Wells Fargo & Company cut their price objective on shares of Unity Software from $54.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th.

Unity Software Stock Performance

Shares of NYSE:U opened at $19.42 on Wednesday. The firm has a 50 day moving average of $29.51 and a 200 day moving average of $37.29. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of -20.23, a price-to-earnings-growth ratio of 10.42 and a beta of 2.15. Unity Software has a 52 week low of $15.33 and a 52 week high of $52.15.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The business had revenue of $503.09 million for the quarter, compared to analysts’ expectations of $490.64 million. During the same quarter last year, the firm earned ($0.30) EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts predict 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, CFO Jarrod Yahes sold 6,205 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $21.03, for a total value of $130,491.15. Following the completion of the sale, the chief financial officer directly owned 728,381 shares in the company, valued at $15,317,852.43. This trade represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark Barrysmith sold 10,578 shares of Unity Software stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total transaction of $191,144.46. Following the completion of the transaction, the chief accounting officer directly owned 383,901 shares in the company, valued at $6,937,091.07. This represents a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,684 shares of company stock valued at $773,350 over the last 90 days. Insiders own 3.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new stake in Unity Software in the third quarter valued at about $27,000. Atlantic Union Bankshares Corp acquired a new stake in Unity Software in the second quarter worth about $28,000. REAP Financial Group LLC purchased a new stake in shares of Unity Software during the fourth quarter worth about $28,000. Larson Financial Group LLC increased its holdings in shares of Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after acquiring an additional 341 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Unity Software during the fourth quarter valued at about $30,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.