Unity Software (NYSE:U) Price Target Raised to $47.00

Unity Software (NYSE:U) had its target price lifted by The Goldman Sachs Group from $42.00 to $47.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently commented on the stock. Barclays increased their price objective on shares of Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Wedbush increased their price target on shares of Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. HSBC downgraded shares of Unity Software from a “buy” rating to a “hold” rating and raised their price target for the company from $37.50 to $40.80 in a research report on Tuesday, September 30th. Hsbc Global Res cut Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, UBS Group lifted their target price on Unity Software from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.27.

Unity Software Stock Up 4.7%

U stock opened at $44.00 on Tuesday. The business has a 50 day moving average of $43.71 and a 200 day moving average of $39.26. The firm has a market cap of $18.83 billion, a PE ratio of -41.90, a price-to-earnings-growth ratio of 44.07 and a beta of 2.04. Unity Software has a twelve month low of $15.33 and a twelve month high of $52.15. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $470.62 million for the quarter, compared to analysts’ expectations of $452.87 million. During the same period in the prior year, the firm posted ($0.31) earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that Unity Software will post -1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Alexander Blum sold 1,988 shares of Unity Software stock in a transaction on Friday, November 28th. The stock was sold at an average price of $42.47, for a total value of $84,430.36. Following the completion of the sale, the chief operating officer owned 561,130 shares of the company’s stock, valued at $23,831,191.10. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jarrod Yahes sold 27,742 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $42.79, for a total value of $1,187,080.18. Following the sale, the chief financial officer owned 546,129 shares of the company’s stock, valued at approximately $23,368,859.91. This trade represents a 4.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,647,935 shares of company stock worth $75,174,498 in the last 90 days. Insiders own 3.61% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Unity Software by 10.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock valued at $119,000 after purchasing an additional 288 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Unity Software by 12.9% during the third quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after buying an additional 308 shares during the period. Xponance Inc. increased its holdings in Unity Software by 1.8% during the third quarter. Xponance Inc. now owns 18,291 shares of the company’s stock valued at $732,000 after buying an additional 328 shares during the last quarter. Larson Financial Group LLC raised its position in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares during the period. Finally, Allworth Financial LP raised its position in Unity Software by 28.4% in the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after acquiring an additional 412 shares during the period. 73.46% of the stock is currently owned by institutional investors.

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.