Unity Software (NYSE:U) Price Target Raised to $55.00

Unity Software (NYSE:U) had its price objective raised by Jefferies Financial Group from $49.00 to $55.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on U. Piper Sandler raised shares of Unity Software from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $43.00 to $59.00 in a research report on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a research note on Wednesday, October 8th. Macquarie upgraded Unity Software from a “neutral” rating to an “outperform” rating and increased their target price for the company from $33.00 to $50.00 in a research note on Friday, November 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Unity Software in a report on Wednesday, October 22nd. They issued a “hold” rating and a $39.00 target price on the stock. Finally, HSBC lowered Unity Software from a “buy” rating to a “hold” rating and upped their price target for the stock from $37.50 to $40.80 in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Unity Software has a consensus rating of “Moderate Buy” and an average price target of $44.16.

Unity Software Stock Down 0.5%

U opened at $45.33 on Monday. The firm has a market cap of $19.40 billion, a P/E ratio of -43.17, a price-to-earnings-growth ratio of 47.75 and a beta of 2.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.78 and a current ratio of 2.78. The business has a 50 day moving average price of $42.93 and a 200 day moving average price of $38.49. Unity Software has a twelve month low of $15.33 and a twelve month high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The company had revenue of $470.62 million for the quarter, compared to the consensus estimate of $452.87 million. During the same quarter last year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts forecast that Unity Software will post -1.25 EPS for the current year.

Insider Activity

In other news, Director Tomer Bar-Zeev sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $47.00, for a total transaction of $2,350,000.00. Following the completion of the transaction, the director directly owned 873,146 shares of the company’s stock, valued at approximately $41,037,862. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Alexander Blum sold 1,988 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer directly owned 561,130 shares in the company, valued at approximately $23,831,191.10. The trade was a 0.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,651,471 shares of company stock valued at $75,307,029. 3.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Unity Software

Several institutional investors have recently added to or reduced their stakes in the company. CX Institutional bought a new stake in Unity Software during the second quarter worth about $25,000. Root Financial Partners LLC acquired a new stake in Unity Software during the 3rd quarter valued at $27,000. Atlantic Union Bankshares Corp acquired a new stake in Unity Software during the 2nd quarter valued at $28,000. Larson Financial Group LLC raised its position in Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after purchasing an additional 341 shares during the last quarter. Finally, IFP Advisors Inc acquired a new position in Unity Software in the third quarter worth $33,000. 73.46% of the stock is owned by institutional investors.

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.