Unity Software (NYSE:U) Price Target Raised to $52.00 at Morgan Stanley

Unity Software (NYSE:U) had its price target boosted by investment analysts at Morgan Stanley from $48.00 to $52.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 13.99% from the stock’s current price.

Several other research firms also recently commented on U. Arete Research raised Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Monday, December 1st. The Goldman Sachs Group initiated coverage on shares of Unity Software in a research note on Wednesday, October 15th. They issued a “neutral” rating and a $38.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Unity Software from $51.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. BTIG Research raised shares of Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Thursday, December 11th. Finally, Barclays increased their price target on shares of Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.77.

Unity Software Stock Down 3.5%

NYSE U traded down $1.67 during trading hours on Tuesday, reaching $45.62. 5,208,778 shares of the company’s stock traded hands, compared to its average volume of 6,268,484. Unity Software has a 52-week low of $15.33 and a 52-week high of $52.15. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.78. The firm has a 50-day simple moving average of $43.44 and a 200 day simple moving average of $39.06. The firm has a market cap of $19.52 billion, a PE ratio of -43.37, a PEG ratio of 46.81 and a beta of 2.04.

Unity Software (NYSE:U) last released its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The firm had revenue of $470.62 million during the quarter, compared to analyst estimates of $452.87 million. During the same period last year, the business earned ($0.31) earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Activity at Unity Software

In other Unity Software news, COO Alexander Blum sold 1,988 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $42.47, for a total transaction of $84,430.36. Following the completion of the transaction, the chief operating officer directly owned 561,130 shares of the company’s stock, valued at approximately $23,831,191.10. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mark Barrysmith sold 14,407 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $50.01, for a total transaction of $720,494.07. Following the completion of the sale, the chief accounting officer directly owned 394,479 shares in the company, valued at $19,727,894.79. This trade represents a 3.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,651,471 shares of company stock worth $75,307,029 in the last quarter. 3.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Unity Software by 37.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,462 shares of the company’s stock worth $522,000 after purchasing an additional 3,122 shares during the last quarter. GAMMA Investing LLC grew its holdings in Unity Software by 20.5% in the 4th quarter. GAMMA Investing LLC now owns 3,575 shares of the company’s stock valued at $158,000 after buying an additional 608 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Unity Software in the 3rd quarter worth $2,471,000. Strategic Investment Solutions Inc. IL raised its holdings in shares of Unity Software by 23.8% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 5,208 shares of the company’s stock worth $209,000 after acquiring an additional 1,000 shares during the period. Finally, IFP Advisors Inc purchased a new position in shares of Unity Software during the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

About Unity Software

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.