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

by · The Markets Daily

Unity Software (NYSE:U – Get Free Report) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report released on Tuesday,Benzinga reports. The firm presently has a $19.00 target price on the stock, up from their prior target price of $18.00. Bank of America‘s price objective would suggest a potential upside of 0.58% from the stock’s previous close.

U has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Unity Software in a research note on Wednesday, January 21st. Barclays dropped their price objective on Unity Software from $35.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. The Goldman Sachs Group cut their price objective on Unity Software from $47.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Jefferies Financial Group boosted their target price on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.73.

Get Our Latest Stock Analysis on U

Unity Software Stock Performance

Shares of U stock opened at $18.89 on Tuesday. The stock’s 50-day moving average price is $33.96 and its 200 day moving average price is $38.44. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $8.18 billion, a PE ratio of -19.68, a price-to-earnings-growth ratio of 9.78 and a beta of 2.15. Unity Software has a 52-week low of $15.33 and a 52-week high of $52.15.

Unity Software (NYSE:U – Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $503.09 million during 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%.The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm earned ($0.30) EPS. As a group, equities research analysts forecast that Unity Software will post -1.25 EPS for the current year.

Insiders Place Their Bets

In other Unity Software news, CAO Mark Barrysmith sold 10,578 shares of Unity Software stock in a transaction dated Wednesday, February 25th. The shares were 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 owned 383,901 shares in the company, valued at approximately $6,937,091.07. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Alexander Blum sold 2,541 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $18.76, for a total value of $47,669.16. Following the sale, the chief operating officer owned 548,425 shares in the company, valued at approximately $10,288,453. This trade represents a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 933,233 shares of company stock worth $45,387,419. 3.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. REAP Financial Group LLC purchased a new position in Unity Software during the fourth quarter worth approximately $28,000. Root Financial Partners LLC purchased a new position in shares of Unity Software in the 3rd quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in shares of Unity Software in the 4th quarter worth $30,000. Larson Financial Group LLC boosted its holdings in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after acquiring an additional 341 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Unity Software during the fourth quarter valued at about $36,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

About Unity Software

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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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