Unity Software Inc. (NYSE:U) Receives $37.03 Average Target Price from Brokerages

Unity Software Inc. (NYSE:U) has earned an average recommendation of “Hold” from the twenty-one ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $37.03.

U has been the topic of a number of recent analyst reports. Citigroup cut their price objective on Unity Software from $50.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. The Goldman Sachs Group boosted their price objective on shares of Unity Software from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Stifel Nicolaus upped their price objective on shares of Unity Software from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Barclays cut their target price on shares of Unity Software from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 27th. Finally, Needham & Company LLC decreased their price target on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th.

Insider Buying and Selling

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total transaction of $6,647,500.00. Following the completion of the transaction, the director now directly owns 4,498,146 shares in the company, valued at $119,605,702.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Anirma Gupta sold 756 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $33.07, for a total value of $25,000.92. Following the completion of the transaction, the senior vice president now owns 396,985 shares in the company, valued at $13,128,293.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $26.59, for a total value of $6,647,500.00. Following the transaction, the director now directly owns 4,498,146 shares in the company, valued at $119,605,702.14. The disclosure for this sale can be found here. Insiders have sold 341,723 shares of company stock worth $9,577,516 in the last 90 days. Insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of hedge funds have recently bought and sold shares of the business. Front Row Advisors LLC lifted its holdings in shares of Unity Software by 15,550.0% during the 2nd quarter. Front Row Advisors LLC now owns 626 shares of the company’s stock valued at $27,000 after buying an additional 622 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Unity Software during the fourth quarter valued at $27,000. GAMMA Investing LLC purchased a new stake in Unity Software during the fourth quarter valued at $28,000. Pacifica Partners Inc. bought a new position in Unity Software in the fourth quarter valued at about $33,000. Finally, Huntington National Bank boosted its position in Unity Software by 665.0% in the third quarter. Huntington National Bank now owns 895 shares of the company’s stock worth $28,000 after purchasing an additional 778 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of Unity Software stock opened at $23.94 on Wednesday. The company’s fifty day simple moving average is $28.48 and its two-hundred day simple moving average is $30.78. Unity Software has a 12-month low of $22.20 and a 12-month high of $50.08. The firm has a market cap of $9.24 billion, a PE ratio of -11.08 and a beta of 2.42. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.85.

Unity Software (NYSE:U) last posted its earnings results on Monday, February 26th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.89). Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business had revenue of $609.27 million during the quarter, compared to the consensus estimate of $551.01 million. During the same period in the previous year, the business earned ($0.50) earnings per share. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, equities analysts expect that Unity Software will post -0.63 EPS for the current year.

About Unity Software

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.