Unity Software (NYSE:U) Price Target Raised to $32.00

Unity Software (NYSE:UFree Report) had its price objective raised by Wedbush from $30.00 to $32.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

U has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. Citigroup lowered their target price on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Citizens Jmp restated a “market outperform” rating and set a $37.00 price objective on shares of Unity Software in a report on Friday, March 27th. Freedom Capital upgraded Unity Software to a “strong-buy” rating in a report on Thursday, January 15th. Finally, BTIG Research boosted their price objective on Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.77.

Get Our Latest Stock Analysis on U

Unity Software Trading Down 0.5%

Shares of U stock opened at $28.01 on Friday. The company has a market cap of $12.23 billion, a P/E ratio of -17.84, a PEG ratio of 10.37 and a beta of 2.04. The stock has a 50 day simple moving average of $22.06 and a two-hundred day simple moving average of $32.57. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84. Unity Software has a fifty-two week low of $16.78 and a fifty-two week high of $52.15.

Unity Software (NYSE:UGet Free Report) last issued its earnings results 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 business had revenue of $503.09 million during the quarter, compared to the consensus estimate of $490.64 million. Unity Software had a negative return on equity of 1.27% and a negative net margin of 34.99%.The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) earnings per share. Research analysts forecast that Unity Software will post 0.13 earnings per share for the current year.

Insider Activity at Unity Software

In related news, CFO Jarrod Yahes sold 12,196 shares of Unity Software stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total transaction of $220,381.72. Following the transaction, the chief financial officer owned 533,933 shares of the company’s stock, valued at $9,648,169.31. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark Barrysmith sold 10,578 shares of Unity Software stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $191,144.46. Following the transaction, the chief accounting officer directly owned 383,901 shares in the company, valued at approximately $6,937,091.07. The trade was 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 valued at $773,350 over the last 90 days. Insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Unity Software by 52.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after purchasing an additional 1,465,962 shares during the last quarter. Parallel Advisors LLC boosted its position in Unity Software by 21.5% in the first quarter. Parallel Advisors LLC now owns 60,183 shares of the company’s stock worth $1,320,000 after purchasing an additional 10,662 shares during the last quarter. KBC Group NV boosted its position in Unity Software by 1.0% in the first quarter. KBC Group NV now owns 52,505 shares of the company’s stock worth $1,152,000 after purchasing an additional 545 shares during the last quarter. Swiss National Bank boosted its position in Unity Software by 0.4% in the first quarter. Swiss National Bank now owns 627,400 shares of the company’s stock worth $13,765,000 after purchasing an additional 2,600 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Unity Software by 1.2% in the first quarter. California Public Employees Retirement System now owns 558,113 shares of the company’s stock worth $12,245,000 after purchasing an additional 6,474 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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Unity Software Company Profile

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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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