Wedbush Reaffirms “Outperform” Rating for Unity Software (NYSE:U)

Unity Software (NYSE:U)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research note issued to investors on Friday,Benzinga reports. They presently have a $30.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 54.48% from the company’s current price.

A number of other analysts have also recently commented on the company. Citigroup reduced their price target on Unity Software from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. BTIG Research lowered their price objective on Unity Software from $60.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Wells Fargo & Company cut their price objective on Unity Software from $54.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. Finally, UBS Group decreased their target price on shares of Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.73.

Unity Software Trading Down 0.1%

Shares of U stock opened at $19.42 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $8.41 billion, a price-to-earnings ratio of -20.23, a PEG ratio of 10.42 and a beta of 2.14. Unity Software has a 1 year low of $15.33 and a 1 year high of $52.15. The firm has a fifty day moving average price of $29.51 and a 200-day moving average price of $37.31.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $503.09 million for the quarter, compared to analysts’ expectations of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.Unity Software’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.30) EPS. As a group, equities analysts predict that Unity Software will post -1.25 earnings per share for the current year.

Insider Activity

In related news, CAO Mark Barrysmith sold 10,578 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total transaction of $191,144.46. Following the completion of the transaction, the chief accounting officer directly owned 383,901 shares of the company’s stock, valued at approximately $6,937,091.07. This represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Alexander Blum sold 10,164 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $183,663.48. Following the transaction, the chief operating officer owned 550,966 shares of the company’s stock, valued at $9,955,955.62. This represents a 1.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 41,684 shares of company stock worth $773,350 over the last 90 days. Corporate insiders own 3.61% of the company’s stock.

Institutional Trading of Unity Software

A number of large investors have recently added to or reduced their stakes in U. Corient Private Wealth LLC boosted its position in shares of Unity Software by 63.2% during the 4th quarter. Corient Private Wealth LLC now owns 17,681 shares of the company’s stock valued at $781,000 after acquiring an additional 6,845 shares during the last quarter. Bank of Hawaii bought a new position in Unity Software during the fourth quarter valued at $872,000. T. Rowe Price Investment Management Inc. lifted its position in Unity Software by 41.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,622,445 shares of the company’s stock valued at $204,174,000 after purchasing an additional 1,355,847 shares during the last quarter. Compound Planning Inc. grew its stake in shares of Unity Software by 35.6% in the 4th quarter. Compound Planning Inc. now owns 12,764 shares of the company’s stock worth $564,000 after buying an additional 3,354 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. purchased a new position in shares of Unity Software in the 4th quarter worth $2,208,000. Institutional investors own 73.46% of the company’s stock.

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.