Unity Software Inc. (NYSE:U) Stock Has Average Price Target of $48.01

Unity Software Inc. (NYSE:U – Get Free Report) has received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $48.01.

Several equities research analysts have recently commented on the company. Citigroup upped their price target on Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Wells Fargo & Company increased their price objective on shares of Unity Software from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Wedbush upped their price objective on Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, October 14th. Raymond James Financial upgraded shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research report on Thursday, October 8th. Finally, Benchmark raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, August 7th.

Get Our Latest Stock Report on Unity Software

Unity Software Trading Up 1.5%

NYSE U opened at $40.87 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. Unity Software has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a market capitalization of $17.98 billion, a price-to-earnings ratio of -30.05, a price-to-earnings-growth ratio of 1.79 and a beta of 2.11. The firm’s fifty day moving average price is $43.18 and its 200 day moving average price is $34.06.

Unity Software (NYSE:U – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%. The business’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. On average, sell-side analysts expect that Unity Software will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Alexander Blum sold 43,556 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the sale, the chief operating officer owned 661,855 shares in the company, valued at $28,797,311.05. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Bromberg sold 16,383 shares of Unity Software stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $742,313.73. Following the completion of the sale, the chief executive officer directly owned 1,541,131 shares of the company’s stock, valued at approximately $69,828,645.61. This represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 109,547 shares of company stock worth $4,884,202. 0.77% of the stock is owned by company insiders.

Institutional Trading of Unity Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in Unity Software in the first quarter valued at $54,534,000. Sanders Morris Harris LLC purchased a new stake in Unity Software during the third quarter valued at about $1,345,000. Entropy Technologies LP acquired a new stake in Unity Software during the first quarter worth about $1,985,000. Corient Private Wealth LP increased its stake in Unity Software by 194.1% during the second quarter. Corient Private Wealth LP now owns 48,691 shares of the company’s stock worth $1,392,000 after acquiring an additional 32,135 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Unity Software by 10.8% during the second quarter. HB Wealth Management LLC now owns 274,554 shares of the company’s stock worth $7,847,000 after acquiring an additional 26,762 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

About Unity Software

(Get Free Report)

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time content. Its core product is the Unity engine, a development platform used to build video games and experiences for mobile devices, personal computers, consoles, augmented and virtual reality systems, and other platforms.

The company also provides tools and services that support the development and operation of interactive applications, including collaboration and cloud-based development tools, multiplayer and voice communication capabilities, analytics, advertising, and in-app monetization solutions.

Further Reading

Analyst Recommendations for Unity Software (NYSE:U)

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