Unity Software (NYSE:U) Raised to “Buy” at Wall Street Zen

Unity Software (NYSE:U) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Monday.

Other equities research analysts have also recently issued research reports about the company. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, February 21st. Hsbc Global Res raised shares of Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. Macquarie initiated coverage on shares of Unity Software in a report on Monday, March 10th. They issued a “neutral” rating and a $24.00 price objective for the company. Jefferies Financial Group upgraded shares of Unity Software from a “hold” rating to a “buy” rating and upped their price objective for the stock from $22.00 to $29.00 in a report on Friday, May 30th. Finally, Wedbush cut shares of Unity Software from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.14.

Unity Software Stock Performance

Shares of U opened at $24.87 on Monday. The company’s 50 day moving average price is $21.41 and its 200 day moving average price is $22.43. Unity Software has a 52 week low of $13.90 and a 52 week high of $30.88. The company has a market capitalization of $10.34 billion, a PE ratio of -14.80 and a beta of 2.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software (NYSE:U) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.19. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The business had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $415.77 million. During the same period in the previous year, the company posted $0.28 EPS. Unity Software’s revenue was down 5.5% on a year-over-year basis. Research analysts expect that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Activity

In related news, CAO Mark Barrysmith sold 1,414 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $21.42, for a total value of $30,287.88. Following the completion of the transaction, the chief accounting officer now directly owns 480,408 shares of the company’s stock, valued at $10,290,339.36. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Helgason sold 261,473 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the completion of the transaction, the director now directly owns 7,489,173 shares of the company’s stock, valued at approximately $192,471,746.10. This trade represents a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,286,987 shares of company stock valued at $30,302,451. 3.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its holdings in shares of Unity Software by 30,300.0% during the 1st 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. Anderson Financial Strategies LLC bought a new position in shares of Unity Software during the 4th quarter worth approximately $28,000. Banque Transatlantique SA bought a new position in shares of Unity Software during the first quarter valued at $28,000. Principal Securities Inc. lifted its holdings in shares of Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after acquiring an additional 477 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Unity Software during the fourth quarter valued at $36,000. 73.46% of the stock is owned by institutional investors.

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.