Unity Software (NYSE:U) Given New $70.00 Price Target at Citizens Jmp

Unity Software (NYSE:U) had its price target boosted by Citizens Jmp from $45.00 to $70.00 in a research note released on Friday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Several other equities analysts have also recently commented on U. Piper Sandler reaffirmed an “overweight” rating on shares of Unity Software in a report on Monday, October 5th. Benchmark upgraded Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, August 7th. Jefferies Financial Group boosted their price objective on Unity Software from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. UBS Group restated an “outperform” rating on shares of Unity Software in a research note on Friday. Finally, Zacks Research lowered Unity Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.32.

Unity Software Stock Performance

Shares of NYSE:U traded up $2.75 on Friday, hitting $51.55. 23,615,425 shares of the company were exchanged, compared to its average volume of 8,798,267. The company’s 50 day moving average price is $42.48 and its two-hundred day moving average price is $31.84. Unity Software has a one year low of $16.78 and a one year high of $52.91. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of -63.65, a PEG ratio of 1.69 and a beta of 2.08.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.41. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The business had revenue of $622.09 million during the quarter, compared to analyst estimates of $567.03 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The firm’s revenue for the quarter was up 32.2% on a year-over-year basis. Research analysts expect that Unity Software will post 0.55 earnings per share for the current year.

Insider Buying and Selling at Unity Software

In other Unity Software news, CEO Matthew S. Bromberg sold 16,383 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $742,313.73. Following the sale, the chief executive officer directly owned 1,541,131 shares of the company’s stock, valued at approximately $69,828,645.61. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Boyden sold 1,032 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the sale, the senior vice president owned 308,413 shares in the company, valued at approximately $13,977,277.16. This represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 109,547 shares of company stock worth $4,884,202. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of hedge funds have recently modified their holdings of the stock. Atreides Management LP bought a new position in shares of Unity Software during the 2nd quarter worth approximately $292,826,000. Resolute Advisors LLC raised its stake in Unity Software by 473.3% during the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock worth $136,219,000 after acquiring an additional 3,934,840 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Unity Software by 9,886.8% during the third quarter. Assenagon Asset Management S.A. now owns 2,645,007 shares of the company’s stock worth $108,260,000 after acquiring an additional 2,618,522 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Unity Software during the first quarter valued at $54,534,000. Finally, Avala Global LP bought a new position in shares of Unity Software during the second quarter valued at $62,522,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Unity Software

Here are the key news stories impacting Unity Software this week:

• Positive Sentiment: Q3 results beat expectations: Unity reported revenue of $622.1 million, up 32.2% year over year, and adjusted earnings of $0.44 per share. It also posted its first GAAP quarterly profit since its 2020 IPO, with net income of $122 million. Unity Q3 earnings beat estimates on Vector strength and margin gains
• Positive Sentiment: AI-driven advertising is gaining traction: Revenue from Vector, Unity’s AI-powered advertising platform, surged 126%, helping widen margins and bolstering the growth outlook. Unity Q3 earnings call highlights Vector growth and AI expansion
• Positive Sentiment: Outlook topped analyst expectations: Unity’s Q4 revenue guidance was well above consensus, with management anticipating 65%–67% growth in strategic revenue and an adjusted EBITDA margin of about 42%. Unity forecasts Q4 strategic revenue and margin
• Positive Sentiment: Analyst targets moved higher: Needham and Citizens JMP raised targets to $70; Oppenheimer and Wells Fargo raised theirs to $64, while Citigroup lifted its target to $59. Needham price-target update
• Neutral Sentiment: Takeover reports add uncertainty: Silver Lake and Saudi Arabia’s Public Investment Fund reportedly held discussions about acquiring Unity. Talks are described as early-stage, with no confirmed agreement or final terms. Silver Lake and PIF takeover approach report
• Negative Sentiment: Creator tools are a caveat: While advertising is growing rapidly, a report noted that Unity’s creator-tools business is slowing, which could temper the broader growth story if that weakness persists. Vector ads lift Unity to first GAAP profit

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.