Unity Software (NYSE:U) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Unity Software (NYSE:U) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other brokerages have also recently commented on U. Wedbush increased their price target on Unity Software from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. JMP Securities raised their price objective on Unity Software from $30.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Citigroup raised their price objective on Unity Software from $29.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. UBS Group raised their price objective on Unity Software from $22.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, BTIG Research cut Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 price objective for the company. in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.20.

Unity Software Stock Performance

Shares of NYSE U opened at $33.17 on Friday. The stock has a 50 day moving average price of $28.63 and a 200 day moving average price of $24.10. Unity Software has a 52 week low of $14.89 and a 52 week high of $38.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $14.01 billion, a PE ratio of -31.29 and a beta of 2.32.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The company had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same period last year, the company posted ($0.32) earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. Analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In other news, Director David Helgason sold 261,473 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the transaction, the director owned 7,489,173 shares in the company, valued at approximately $192,471,746.10. This trade represents a 3.37% 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 link. Also, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $26.39, for a total value of $6,597,500.00. Following the transaction, the director owned 2,398,146 shares in the company, valued at approximately $63,287,072.94. This trade represents a 9.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,724 shares of company stock valued at $31,284,962 in the last 90 days. Corporate insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of hedge funds have recently added to or reduced their stakes in U. Cornerstone Planning Group LLC increased its stake in 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. CX Institutional bought a new position in Unity Software during the 2nd quarter worth $25,000. Anderson Financial Strategies LLC acquired a new stake in shares of Unity Software in the 4th quarter valued at $28,000. Banque Transatlantique SA acquired a new stake in shares of Unity Software in the 1st quarter valued at $28,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Unity Software in the 2nd quarter valued at $28,000. 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.