Unity Software Inc. (NYSE:U) Stock Has Consensus Price Target of $48.01

Shares of Unity Software Inc. (NYSE:U) have been assigned an average recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $48.01.

A number of equities research analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating on shares of Unity Software in a research note on Monday, October 5th. Bank of America raised shares of Unity Software from a “neutral” rating to a “buy” rating and raised their price objective for the company from $30.00 to $50.00 in a research note on Friday, August 7th. Wedbush lifted their target price on shares of Unity Software from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. Morgan Stanley lifted their target price on shares of Unity Software from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, October 13th. Finally, Citigroup upped their target price on shares of Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, August 10th.

Insider Buying and Selling

In related news, CFO Jarrod Yahes sold 26,017 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the sale, the chief financial officer owned 678,343 shares in the company, valued at approximately $30,735,721.33. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 43,556 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $43.51, for a total value of $1,895,121.56. Following the completion of the transaction, the chief operating officer directly owned 661,855 shares in the company, valued at $28,797,311.05. The trade was a 6.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 109,547 shares of company stock valued at $4,884,202 over the last 90 days. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several institutional investors have recently modified their holdings of U. Fortitude Family Office LLC raised its position in shares of Unity Software by 56.1% in the 3rd quarter. Fortitude Family Office LLC now owns 840 shares of the company’s stock valued at $34,000 after acquiring an additional 302 shares during the period. Reyes Financial Architecture Inc. bought a new position in Unity Software during the 3rd quarter worth approximately $62,000. Global Retirement Partners LLC bought a new position in Unity Software during the 2nd quarter worth approximately $56,000. Versant Capital Management Inc grew its holdings in Unity Software by 37.6% during the second quarter. Versant Capital Management Inc now owns 2,041 shares of the company’s stock valued at $58,000 after purchasing an additional 558 shares during the period. Finally, Elevation Wealth Partners LLC grew its holdings in Unity Software by 105.2% during the second quarter. Elevation Wealth Partners LLC now owns 2,286 shares of the company’s stock valued at $65,000 after purchasing an additional 1,172 shares during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Price Performance

Shares of U stock opened at $40.38 on Thursday. The stock has a 50-day moving average price of $43.15 and a 200 day moving average price of $31.94. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm has a market cap of $17.77 billion, a price-to-earnings ratio of -29.69, a PEG ratio of 1.79 and a beta of 2.11. Unity Software has a 12 month low of $16.78 and a 12 month high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.39. The firm had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. Research analysts expect that Unity Software will post 0.55 EPS for the current year.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time content. Its core product is the Unity engine, a development platform used to build video games and experiences for mobile devices, personal computers, consoles, augmented and virtual reality systems, and other platforms.

The company also provides tools and services that support the development and operation of interactive applications, including collaboration and cloud-based development tools, multiplayer and voice communication capabilities, analytics, advertising, and in-app monetization solutions.