Unity Software Inc. (NYSE:U) Receives $43.04 Average Price Target from Brokerages

by · The Cerbat Gem

Unity Software Inc. (NYSE:U – Get Free Report) has received a consensus rating of “Moderate Buy” from the twenty-three brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $43.0444.

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Unity Software in a research report on Wednesday, October 22nd. They set a “hold” rating and a $39.00 target price for the company. UBS Group increased their price objective on Unity Software from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Citigroup upped their target price on shares of Unity Software from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Piper Sandler raised shares of Unity Software from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $43.00 to $59.00 in a report on Thursday, December 11th.

Read Our Latest Analysis on Unity Software

Unity Software Price Performance

Shares of Unity Software stock opened at $45.12 on Friday. The firm has a market cap of $19.31 billion, a P/E ratio of -42.97 and a beta of 2.04. The firm’s 50-day simple moving average is $41.61 and its 200-day simple moving average is $37.41. Unity Software has a twelve month low of $15.33 and a twelve month high of $52.15. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.78 and a current ratio of 2.78.

Unity Software (NYSE:U – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $470.62 million during the quarter, compared to analyst estimates of $452.87 million. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.31) earnings per share. As a group, research analysts expect that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, Director David Helgason sold 393,312 shares of Unity Software stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $49.64, for a total value of $19,524,007.68. Following the completion of the transaction, the director owned 5,439,173 shares in the company, valued at approximately $270,000,547.72. The trade was a 6.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jarrod Yahes sold 34,719 shares of the business’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 transaction, the chief financial officer directly owned 573,871 shares in the company, valued at approximately $23,746,781.98. This represents a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,901,471 shares of company stock valued at $85,264,529 in the last ninety days. 3.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after buying an additional 6,734,285 shares in the last quarter. Norges Bank acquired a new stake in Unity Software in the 2nd quarter valued at about $151,221,000. Atreides Management LP raised its stake in shares of Unity Software by 146.7% in the first quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock worth $184,752,000 after acquiring an additional 5,607,572 shares during the last quarter. Slate Path Capital LP lifted its position in shares of Unity Software by 25.4% during the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after purchasing an additional 4,048,484 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Unity Software during the third quarter worth approximately $106,233,000. 73.46% of the stock is owned by institutional investors.

About Unity Software

(Get Free Report)

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.

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