Unity Software (NYSE:U – Get Free Report) had its target price increased by equities researchers at Morgan Stanley from $50.00 to $55.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 17.86% from the stock’s previous close.
U has been the subject of a number of other research reports. Raymond James Financial raised shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a research report on Thursday, October 8th. Citizens Jmp increased their price objective on shares of Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Needham & Company LLC raised their target price on shares of Unity Software from $40.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Citigroup lifted their target price on Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and a consensus price target of $47.05.
Read Our Latest Stock Analysis on Unity Software
Unity Software Stock Performance
Unity Software (NYSE:U – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. During the same period in the prior year, the company earned $0.18 earnings per share. The firm’s revenue was up 24.0% compared to the same quarter last year. As a group, equities analysts anticipate that Unity Software will post 0.55 EPS for the current fiscal year.
Insider Activity
In other Unity Software news, CFO Jarrod Yahes sold 26,017 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the transaction, the chief financial officer owned 678,343 shares in the company, valued at approximately $30,735,721.33. This represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Boyden sold 1,032 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total transaction of $46,770.24. Following the completion of the sale, the senior vice president owned 308,413 shares in the company, valued at $13,977,277.16. The trade was a 0.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 109,547 shares of company stock valued at $4,884,202. Company insiders own 0.77% of the company’s stock.
Hedge Funds Weigh In On Unity Software
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atreides Management LP bought a new stake in Unity Software during the 2nd quarter valued at $292,826,000. Resolute Advisors LLC boosted its position in Unity Software by 473.3% during the 2nd quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock worth $136,219,000 after acquiring an additional 3,934,840 shares during the period. Renaissance Technologies LLC bought a new position in shares of Unity Software in the first quarter worth $54,534,000. Avala Global LP bought a new position in shares of Unity Software in the second quarter worth $62,522,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Unity Software by 52.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after purchasing an additional 1,465,962 shares in the last quarter. 73.46% of the stock is owned by institutional investors.
Unity Software Company Profile
Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and entertainment.
The company’s core offering is the Unity development platform, which includes tools for graphics, physics, animation, audio, scripting and cross-platform deployment.
Featured Articles
- Five stocks we like better than Unity Software
- Surgical Precision, Sustainable Returns: Johnson & Johnson Secures its Cash Flow Runway
- Tesla’s Robotaxi Lands in Paris—But Europe’s Real Fight Is Over Cheap EVs
- IonQ Fell 9% on a $1.3 Billion Deal—Is Wall Street Missing Something?
- JPMorgan Earnings Miss Estimates But Reveal Broad-Based Strength
Receive News & Ratings for Unity Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unity Software and related companies with MarketBeat.com's FREE daily email newsletter.
