Unity Software Inc. (NYSE:U) Receives $39.29 Consensus Target Price from Analysts

Shares of Unity Software Inc. (NYSE:U) have earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $39.5158.

A number of analysts recently issued reports on U shares. Wells Fargo & Company decreased their price objective on shares of Unity Software from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Citizens Jmp decreased their price target on shares of Unity Software from $50.00 to $37.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. BTIG Research dropped their price objective on Unity Software from $60.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Jefferies Financial Group raised their target price on Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Unity Software in a research note on Wednesday, January 21st.

Insider Buying and Selling

In related news, CAO Mark Barrysmith sold 14,407 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $50.01, for a total value of $720,494.07. Following the sale, the chief accounting officer directly owned 394,479 shares in the company, valued at approximately $19,727,894.79. The trade was a 3.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jarrod Yahes sold 27,742 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $42.79, for a total transaction of $1,187,080.18. Following the transaction, the chief financial officer owned 546,129 shares of the company’s stock, valued at $23,368,859.91. This represents a 4.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,337,204 shares of company stock worth $63,108,672 in the last quarter. 3.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Unity Software

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in shares of Unity Software by 58.7% in the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after purchasing an additional 6,734,285 shares in the last quarter. Norges Bank bought a new position in Unity Software in the 2nd quarter worth about $151,221,000. Slate Path Capital LP boosted its stake in Unity Software by 25.4% in the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after purchasing an additional 4,048,484 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Unity Software during the 3rd quarter valued at about $106,233,000. Finally, Duquesne Family Office LLC bought a new stake in shares of Unity Software during the second quarter valued at about $42,932,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

U stock opened at $18.23 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84. The business has a 50-day simple moving average of $37.16 and a two-hundred day simple moving average of $39.08. The company has a market capitalization of $7.89 billion, a P/E ratio of -18.98, a price-to-earnings-growth ratio of 9.92 and a beta of 2.04. Unity Software has a 52-week low of $15.33 and a 52-week high of $52.15.

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