Unity Software (NYSE:U) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Unity Software (NYSE:U) had its price objective hoisted by Jefferies Financial Group from $29.00 to $35.00 in a research note released on Wednesday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. Needham & Company LLC dropped their target price on shares of Unity Software from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Wedbush upgraded shares of Unity Software to a “strong-buy” rating in a report on Tuesday, July 1st. Morgan Stanley dropped their target price on shares of Unity Software from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Bank of America started coverage on shares of Unity Software in a report on Thursday, June 26th. They issued an “underperform” rating and a $15.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Unity Software from $19.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Unity Software currently has an average rating of “Moderate Buy” and an average price target of $26.43.

Unity Software Stock Up 0.4%

Unity Software stock opened at $36.67 on Wednesday. The company has a market capitalization of $15.24 billion, a P/E ratio of -32.74 and a beta of 2.29. The firm’s fifty day simple moving average is $25.17 and its 200-day simple moving average is $22.90. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70. Unity Software has a 1-year low of $13.90 and a 1-year high of $38.96.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.19. The firm had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. Sell-side analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Tomer Bar-Zeev sold 50,000 shares of Unity Software stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $32.97, for a total transaction of $1,648,500.00. Following the sale, the director directly owned 2,298,146 shares in the company, valued at approximately $75,769,873.62. The trade was a 2.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew S. Bromberg sold 133,072 shares of Unity Software stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the sale, the chief executive officer owned 1,222,812 shares in the company, valued at approximately $25,972,526.88. This trade represents a 9.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,276,809 shares of company stock worth $31,561,623. 3.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

Institutional investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC boosted its position 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 valued at $25,000 after acquiring an additional 1,212 shares in the last quarter. CX Institutional bought a new position in Unity Software during the 2nd quarter valued at about $25,000. Anderson Financial Strategies LLC bought a new position in Unity Software during the 4th quarter valued at about $28,000. Banque Transatlantique SA bought a new position in Unity Software during the 1st quarter valued at about $28,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Unity Software during the 4th quarter valued at about $36,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.