Unity Software (NYSE:U) Upgraded at Bank of America

by · The Markets Daily

Bank of America upgraded shares of Unity Software (NYSE:U – Free Report) from an underperform rating to a neutral rating in a report published on Tuesday, Marketbeat.com reports. Bank of America currently has $19.00 price target on the stock, up from their previous price target of $18.00.

A number of other brokerages have also recently issued reports on U. UBS Group lowered their price objective on Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Unity Software from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Citizens Jmp cut their price objective on shares of Unity Software from $50.00 to $37.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. Finally, Barclays reduced their price objective on shares of Unity Software from $35.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.73.

Check Out Our Latest Analysis on U

Unity Software Price Performance

Unity Software stock opened at $20.74 on Tuesday. The business’s 50 day simple moving average is $32.45 and its 200 day simple moving average is $38.07. Unity Software has a 12 month low of $15.33 and a 12 month high of $52.15. The company has a market cap of $8.98 billion, a price-to-earnings ratio of -21.60, a PEG ratio of 10.93 and a beta of 2.14. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52.

Unity Software (NYSE:U – Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The business had revenue of $503.09 million during the quarter, compared to the consensus estimate of $490.64 million. During the same period last year, the business posted ($0.30) earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts forecast that Unity Software will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In related news, CAO Mark Barrysmith sold 14,407 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $50.01, for a total transaction of $720,494.07. Following the sale, the chief accounting officer owned 394,479 shares of the company’s stock, valued at approximately $19,727,894.79. This represents a 3.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jarrod Yahes sold 12,196 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $220,381.72. Following the completion of the transaction, the chief financial officer directly owned 533,933 shares of the company’s stock, valued at approximately $9,648,169.31. The trade was a 2.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 933,233 shares of company stock valued at $45,387,419 in the last quarter. 3.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Unity Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in U. Jefferies Financial Group Inc. purchased a new position in Unity Software in the 2nd quarter worth approximately $205,000. Vanguard Group Inc. raised its position in shares of Unity Software by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock valued at $1,383,647,000 after buying an additional 930,293 shares in the last quarter. Austin Wealth Management LLC bought a new stake in shares of Unity Software during the 2nd quarter worth $208,000. PNC Financial Services Group Inc. grew its position in Unity Software by 148.2% in the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after acquiring an additional 13,245 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd grew its position in Unity Software by 43.6% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock worth $114,091,000 after acquiring an additional 865,179 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

(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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