Unity Software Inc. (NYSE:U) Receives Average Recommendation of “Moderate Buy” from Brokerages

Unity Software Inc. (NYSE:U) has been assigned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $43.0444.

Several analysts have recently weighed in on the company. Wells Fargo & Company upgraded Unity Software from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $42.00 to $51.00 in a report on Friday, December 5th. Macquarie raised shares of Unity Software from a “neutral” rating to an “outperform” rating and upped their price target for the company from $33.00 to $50.00 in a report on Friday, November 7th. BTIG Research upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Thursday, December 11th. Needham & Company LLC lifted their price objective on shares of Unity Software from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Hsbc Global Res downgraded shares of Unity Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th.

Unity Software Trading Up 0.9%

Unity Software stock opened at $45.63 on Friday. Unity Software has a 12-month low of $15.33 and a 12-month high of $52.15. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.78. The stock has a market capitalization of $19.52 billion, a PE ratio of -43.45 and a beta of 2.04. The firm has a 50 day simple moving average of $41.41 and a 200-day simple moving average of $37.09.

Unity Software (NYSE:U) last released its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share 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 firm had revenue of $470.62 million during the quarter, compared to the consensus estimate of $452.87 million. During the same period in the prior year, the firm posted ($0.31) earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Transactions at Unity Software

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction 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 completion of the sale, the director owned 1,298,146 shares in the company, valued at $49,303,585.08. This represents a 16.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jarrod Yahes sold 34,719 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total value of $1,436,672.22. Following the completion of the sale, the chief financial officer directly owned 573,871 shares of the company’s stock, valued at approximately $23,746,781.98. This trade represents a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,901,471 shares of company stock valued at $85,264,529 in the last 90 days. 3.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

Several institutional investors and hedge funds have recently modified their holdings of U. Hudson Bay Capital Management LP acquired a new stake in shares of Unity Software in the third quarter worth $2,471,000. Strategic Investment Solutions Inc. IL raised its holdings in Unity Software by 23.8% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 5,208 shares of the company’s stock worth $209,000 after acquiring an additional 1,000 shares during the period. IFP Advisors Inc acquired a new position in Unity Software during the 3rd quarter worth $33,000. Swiss Life Asset Management Ltd acquired a new position in Unity Software during the 3rd quarter worth $577,000. Finally, Danske Bank A S bought a new stake in Unity Software during the third quarter valued at about $80,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.