Brokerages Set Unity Software Inc. (NYSE:U) PT at $39.73

Unity Software Inc. (NYSE:U) has been given a consensus recommendation of “Moderate Buy” by the twenty-three ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $39.7263.

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Unity Software in a research note on Wednesday, January 21st. The Goldman Sachs Group reduced their price objective on Unity Software from $47.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Citigroup decreased their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Unity Software in a research report on Wednesday, February 11th. Finally, Piper Sandler upgraded shares of Unity Software from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $43.00 to $59.00 in a research report on Thursday, December 11th.

Insiders Place Their Bets

In related news, CFO Jarrod Yahes sold 6,205 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $21.03, for a total transaction of $130,491.15. Following the sale, the chief financial officer directly owned 728,381 shares in the company, valued at approximately $15,317,852.43. The trade was a 0.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Barrysmith sold 10,578 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total value of $191,144.46. Following the sale, the chief accounting officer directly owned 383,901 shares in the company, valued at $6,937,091.07. This trade represents a 2.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have 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 Investors Weigh In On Unity Software

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Unity Software by 10.8% during the third quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock valued at $119,000 after acquiring an additional 288 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Unity Software by 12.9% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after purchasing an additional 308 shares in the last quarter. Xponance Inc. raised its position in shares of Unity Software by 1.8% in the third quarter. Xponance Inc. now owns 18,291 shares of the company’s stock worth $732,000 after buying an additional 328 shares in the last quarter. Larson Financial Group LLC grew its position in Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after buying an additional 341 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after acquiring an additional 412 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Trading Down 0.1%

Shares of Unity Software stock opened at $19.42 on Wednesday. The firm has a market cap of $8.41 billion, a PE ratio of -20.23, a P/E/G 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 company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a fifty day moving average price of $29.51 and a 200-day moving average price of $37.33.

Unity Software (NYSE:U) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $503.09 million during the quarter, compared to analyst estimates of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.30) earnings per share. Equities research analysts anticipate that Unity Software will post -1.25 EPS for the current year.

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.