-$0.06 EPS Expected for Unity Software Inc. (NYSE:U) This Quarter

Brokerages forecast that Unity Software Inc. (NYSE:U) will announce earnings per share (EPS) of ($0.06) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Unity Software’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at ($0.04). Unity Software posted earnings of ($0.09) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 11th.

According to Zacks, analysts expect that Unity Software will report full year earnings of ($0.23) per share for the current year, with EPS estimates ranging from ($0.27) to ($0.19). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.12) per share, with EPS estimates ranging from ($0.29) to $0.15. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Unity Software.

Unity Software (NYSE:U) last released its earnings results on Tuesday, August 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.29. Unity Software had a negative net margin of 52.08% and a negative return on equity of 17.16%. The business had revenue of $273.56 million during the quarter, compared to analyst estimates of $242.75 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The company’s revenue for the quarter was up 48.4% compared to the same quarter last year.

U has been the subject of a number of analyst reports. Macquarie initiated coverage on shares of Unity Software in a report on Tuesday, August 31st. They issued an “outperform” rating and a $152.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Unity Software in a report on Wednesday, August 11th. They issued a “buy” rating and a $135.00 price objective for the company. Morgan Stanley initiated coverage on shares of Unity Software in a report on Wednesday, June 30th. They issued an “equal weight” rating and a $115.00 price objective for the company. Piper Sandler upped their target price on shares of Unity Software from $150.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, August 11th. Finally, Stifel Nicolaus upped their target price on shares of Unity Software from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, August 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $129.92.

Shares of Unity Software stock traded up $3.44 during trading hours on Tuesday, reaching $131.00. 2,287,230 shares of the company’s stock were exchanged, compared to its average volume of 3,772,194. Unity Software has a 1 year low of $75.11 and a 1 year high of $174.94. The business has a fifty day moving average of $118.08 and a two-hundred day moving average of $105.86. The company has a market capitalization of $37.01 billion and a P/E ratio of -59.55.

In other news, CEO John S. Riccitiello sold 217,124 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $106.82, for a total transaction of $23,193,185.68. Following the transaction, the chief executive officer now directly owns 4,503,946 shares in the company, valued at $481,111,511.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Ralph Hauwert sold 6,917 shares of the firm’s stock in a transaction that occurred on Friday, July 9th. The stock was sold at an average price of $105.54, for a total transaction of $730,020.18. The disclosure for this sale can be found here. Insiders sold 1,224,982 shares of company stock worth $146,128,922 over the last quarter. 19.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BerganKDV Wealth Management LLC acquired a new stake in Unity Software in the first quarter valued at $25,000. Shell Asset Management Co. acquired a new stake in Unity Software in the second quarter valued at $25,000. Albion Financial Group UT acquired a new stake in Unity Software in the second quarter valued at $27,000. Wagner Wealth Management LLC acquired a new position in shares of Unity Software during the 1st quarter worth $31,000. Finally, Bedel Financial Consulting Inc. acquired a new position in shares of Unity Software during the 2nd quarter worth $36,000. 74.66% of the stock is owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.

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Earnings History and Estimates for Unity Software (NYSE:U)

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