Unity Software (NYSE:U) Stock Rating Upgraded by Freedom Capital

Unity Software (NYSE:U) was upgraded by research analysts at Freedom Capital to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Piper Sandler raised Unity Software from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $43.00 to $59.00 in a report on Thursday, December 11th. BTIG Research upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Thursday, December 11th. Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Wedbush lifted their price target on shares of Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Unity Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.27.

Unity Software Stock Down 6.9%

U opened at $40.96 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.78 and a current ratio of 2.78. Unity Software has a fifty-two week low of $15.33 and a fifty-two week high of $52.15. The firm’s fifty day moving average is $43.73 and its 200 day moving average is $39.38. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of -39.01, a price-to-earnings-growth ratio of 46.10 and a beta of 2.04.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The business had revenue of $470.62 million during the quarter, compared to analyst estimates of $452.87 million. During the same quarter in the prior year, the business posted ($0.31) EPS. Unity Software’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $37.98, for a total value of $9,495,000.00. Following the sale, the director directly owned 1,298,146 shares of the company’s stock, valued at approximately $49,303,585.08. This trade represents a 16.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Alexander Blum sold 40,693 shares of Unity Software stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,683,876.34. Following the completion of the sale, the chief operating officer directly owned 563,118 shares in the company, valued at $23,301,822.84. This represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,647,935 shares of company stock worth $75,174,498 over the last quarter. Company insiders own 3.61% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of large investors have recently modified their holdings of U. CX Institutional bought a new position in Unity Software in the 2nd quarter valued at about $25,000. Root Financial Partners LLC bought a new stake in shares of Unity Software during the 3rd quarter worth approximately $27,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Unity Software during the 2nd quarter worth approximately $28,000. Larson Financial Group LLC increased its stake in Unity Software by 88.1% in 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 during the last quarter. Finally, IFP Advisors Inc acquired a new position in Unity Software during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.