Unity Software (NYSE:U) Raised to Buy at HSBC

Unity Software (NYSE:U) was upgraded by HSBC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has a $34.00 target price on the stock. HSBC’s price objective points to a potential upside of 20.08% from the stock’s current price.

A number of other research analysts have also commented on the stock. Macquarie raised their price objective on shares of Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a research note on Friday, November 8th. Barclays boosted their target price on shares of Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Wells Fargo & Company assumed coverage on shares of Unity Software in a report on Monday, October 28th. They set an “equal weight” rating and a $20.00 price target for the company. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Finally, Jefferies Financial Group raised their price target on shares of Unity Software from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.96.

Unity Software Stock Up 1.1 %

Shares of NYSE U opened at $28.31 on Friday. The stock has a market capitalization of $11.41 billion, a PE ratio of -16.85 and a beta of 2.32. Unity Software has a 52-week low of $13.90 and a 52-week high of $33.43. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average of $22.53 and a 200-day moving average of $21.13.

Unity Software (NYSE:U) last issued its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The business had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. On average, analysts anticipate that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mark Barrysmith sold 1,228 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $24.44, for a total transaction of $30,012.32. Following the completion of the transaction, the chief financial officer now directly owns 453,638 shares in the company, valued at approximately $11,086,912.72. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tomer Bar-Zeev sold 166,667 shares of Unity Software stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.99, for a total transaction of $3,498,340.33. Following the completion of the sale, the director now owns 3,481,479 shares in the company, valued at $73,076,244.21. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 762,597 shares of company stock valued at $18,732,374. 6.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

A number of large investors have recently added to or reduced their stakes in U. Anderson Financial Strategies LLC bought a new position in shares of Unity Software during the fourth quarter worth approximately $28,000. R Squared Ltd bought a new position in Unity Software in the 4th quarter valued at about $30,000. Principal Securities Inc. raised its position in 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 purchasing an additional 477 shares in the last quarter. Planning Capital Management Corp bought a new stake in shares of Unity Software during the 3rd quarter worth $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Unity Software in the 4th quarter valued at approximately $36,000. Institutional investors own 73.46% of the company’s stock.

Unity Software Company Profile

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.