Unity Software (NYSE:U) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Unity Software (NYSE:U) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other research analysts have also weighed in on the company. Arete Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Monday, December 1st. The Goldman Sachs Group dropped their target price on shares of Unity Software from $47.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Benchmark reiterated a “hold” rating on shares of Unity Software in a research report on Monday, February 2nd. Jefferies Financial Group raised their price target on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Finally, Oppenheimer upgraded shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Unity Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.73.

Unity Software Trading Down 0.1%

Shares of NYSE:U opened at $19.42 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. Unity Software has a 12-month low of $15.33 and a 12-month high of $52.15. The business has a 50 day moving average of $29.51 and a two-hundred day moving average of $37.31. The company has a market capitalization of $8.41 billion, a PE ratio of -20.23, a PEG ratio of 10.42 and a beta of 2.14.

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

Insider Activity

In other news, CFO Jarrod Yahes sold 6,205 shares of Unity Software stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.03, for a total transaction of $130,491.15. Following the completion of the sale, the chief financial officer directly owned 728,381 shares of the company’s stock, valued at approximately $15,317,852.43. The trade was a 0.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Alexander Blum sold 2,541 shares of Unity Software stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $18.76, for a total value of $47,669.16. Following the sale, the chief operating officer directly owned 548,425 shares of the company’s stock, valued at $10,288,453. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 41,684 shares of company stock worth $773,350. Corporate insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Hedge funds have recently made changes to their positions in the company. REAP Financial Group LLC acquired a new position in Unity Software in the fourth quarter valued at $28,000. Root Financial Partners LLC acquired a new stake in shares of Unity Software during the third quarter worth about $27,000. V Square Quantitative Management LLC purchased a new position in shares of Unity Software during the fourth quarter worth about $30,000. Larson Financial Group LLC grew its holdings in shares of Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after buying an additional 341 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Unity Software in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.