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

Unity Software (NYSE:U) had its price objective raised by Morgan Stanley from $48.00 to $52.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 13.99% from the stock’s previous close.

U has been the subject of a number of other reports. Barclays lifted their price target on shares of Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. UBS Group boosted their target price on Unity Software from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Macquarie upgraded Unity Software from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $33.00 to $50.00 in a research report on Friday, November 7th. Wedbush lifted their price objective on Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. Finally, Citigroup increased their target price on Unity Software from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.77.

Unity Software Trading Down 3.5%

Shares of U stock traded down $1.67 during trading on Tuesday, hitting $45.62. 5,208,778 shares of the stock traded hands, compared to its average volume of 6,268,484. Unity Software has a 52-week low of $15.33 and a 52-week high of $52.15. The firm has a market capitalization of $19.52 billion, a P/E ratio of -43.37, a price-to-earnings-growth ratio of 46.81 and a beta of 2.04. The firm’s fifty day moving average price is $43.44 and its 200-day moving average price is $39.06. 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 (NYSE:U) last posted its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $470.62 million during the quarter, compared to analysts’ expectations of $452.87 million. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.31) earnings per share. As a group, research analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, CEO Matthew S. Bromberg sold 41,025 shares of the 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 $1,697,614.50. Following the transaction, the chief executive officer directly owned 1,192,541 shares in the company, valued at $49,347,346.58. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Helgason sold 393,312 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $49.64, for a total transaction of $19,524,007.68. Following the sale, the director owned 5,439,173 shares of the company’s stock, valued at $270,000,547.72. This represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,651,471 shares of company stock valued at $75,307,029 over the last ninety days. 3.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Unity Software by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock worth $1,383,647,000 after purchasing an additional 930,293 shares during the last quarter. Slate Path Capital LP grew its stake in Unity Software by 25.4% in the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after acquiring an additional 4,048,484 shares during the period. Wellington Management Group LLP lifted its stake in shares of Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares during the period. Norges Bank purchased a new position in shares of Unity Software during the 2nd quarter worth $151,221,000. Finally, Geode Capital Management LLC grew its position in shares of Unity Software by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company’s stock valued at $122,587,000 after purchasing an additional 36,105 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

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.