It’s Time for the Bulls to Unite Around Unity Software

Sentiment was running hot in November of 2021, when $Unity Software(U.US)$ stock was flirting with the $200 level. The stock had doubled in half a year’s time, and it surely seemed as if the good times would never end.
However, it’s when traders start asking, “What could possibly go wrong?” that things typically start to go wrong. U stock rolled over after topping out near $200, and recently sank into the $30s.
At least two prominent Wall Street experts seem to lean bearish against Unity Software.
First of all, Jefferies analyst Andrew Uerkwitz reduced his price objective on U stock from $100 to $40. The Jefferies analyst cited “bad proprietary customer data” as a problem and cautioned that Unity Software “needs to relearn using the correct data and this will take time.”
Meanwhile, Stifel analyst J. Parker Lane chopped his price target on U stock down from $150 to $100. The odd thing about all of this, though, is that Uerkwitz gave Unity Software an Outperform rating (which is similar to a Buy rating), and Lane gave U stock a “Buy” rating. So apparently, these two analysts aren’t entirely bearish on Unity Software.
Lane even went so far as to express high hopes for Unity Software, saying, “Unity’s strong positioning in the mobile gaming space and growing set of monetization tools will help the company get back on track in a timely fashion, with revenue growth recovering as the year progresses.”
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