Wedbush Issues Positive Forecast for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its price target increased by Wedbush from $41.00 to $42.00 in a research note released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also commented on U. Bank of America initiated coverage on Unity Software in a report on Thursday, June 26th. They issued an “underperform” rating and a $15.00 target price for the company. Hsbc Global Res cut Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Wells Fargo & Company boosted their target price on Unity Software from $24.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. UBS Group upped their target price on shares of Unity Software from $22.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, JMP Securities boosted their price objective on shares of Unity Software from $30.00 to $35.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Unity Software has a consensus rating of “Hold” and a consensus price target of $32.12.

Unity Software Stock Down 1.0%

NYSE:U opened at $37.52 on Monday. 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 firm has a market cap of $15.85 billion, a P/E ratio of -35.40 and a beta of 2.32. Unity Software has a fifty-two week low of $15.33 and a fifty-two week high of $46.94. The firm has a 50-day simple moving average of $39.54 and a two-hundred day simple moving average of $29.27.

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

Insider Buying and Selling

In other news, CEO Matthew S. Bromberg sold 120,000 shares of Unity Software stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $40.03, for a total transaction of $4,803,600.00. Following the transaction, the chief executive officer owned 1,222,812 shares in the company, valued at $48,949,164.36. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $39.83, for a total transaction of $9,957,500.00. Following the sale, the director directly owned 1,548,146 shares of the company’s stock, valued at approximately $61,662,655.18. The trade was a 13.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,334,426 shares of company stock valued at $98,130,784 in the last 90 days. 3.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Unity Software

A number of hedge funds have recently modified their holdings of U. Cornerstone Planning Group LLC raised 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 purchasing an additional 1,212 shares during the period. CX Institutional purchased a new stake in Unity Software in the 2nd quarter worth $25,000. Banque Transatlantique SA bought a new stake in Unity Software during the first quarter valued at about $28,000. Atlantic Union Bankshares Corp bought a new stake in Unity Software during the second quarter valued at about $28,000. Finally, Allworth Financial LP lifted its position in shares of Unity Software by 28.4% in the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after acquiring an additional 412 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

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.