Unity Software Inc. (NYSE:U) Receives $39.29 Consensus Target Price from Analysts

Unity Software Inc. (NYSE:U) has earned an average recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $39.5158.

A number of research firms recently commented on U. Benchmark reissued a “hold” rating on shares of Unity Software in a research note on Monday, February 2nd. Macquarie Infrastructure upgraded Unity Software from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $33.00 to $50.00 in a report on Friday, November 7th. UBS Group reduced their price objective on Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Piper Sandler upgraded 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. Finally, The Goldman Sachs Group cut their target price on Unity Software from $47.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th.

Insider Transactions at Unity Software

In other Unity Software news, Director David Helgason sold 393,312 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $49.64, for a total transaction of $19,524,007.68. Following the completion of the sale, the director directly owned 5,439,173 shares in the company, valued at $270,000,547.72. This represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Alexander Blum sold 1,988 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $42.47, for a total value of $84,430.36. Following the transaction, the chief operating officer directly owned 561,130 shares in the company, valued at $23,831,191.10. This trade represents a 0.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,337,204 shares of company stock worth $63,108,672. Corporate insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Unity Software by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after purchasing an additional 45,481 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Unity Software in the first quarter worth $260,000. US Bancorp DE raised its holdings in Unity Software by 26.4% during the 2nd quarter. US Bancorp DE now owns 33,963 shares of the company’s stock valued at $822,000 after buying an additional 7,103 shares during the last quarter. Callan Family Office LLC bought a new stake in Unity Software during the 2nd quarter valued at $305,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Unity Software by 9.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,558 shares of the company’s stock valued at $836,000 after buying an additional 2,962 shares during the period. 73.46% of the stock is currently owned by institutional investors.

Unity Software Trading Up 1.3%

Shares of U opened at $18.59 on Friday. Unity Software has a 1-year low of $15.33 and a 1-year high of $52.15. The company has a market capitalization of $8.05 billion, a P/E ratio of -19.37, a P/E/G ratio of 8.88 and a beta of 2.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s 50 day simple moving average is $38.34 and its 200 day simple moving average is $39.34.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $503.09 million during the quarter, compared to analysts’ expectations of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) EPS. Sell-side analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

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.