Unity Software (NYSE:U – Get Rating) had its price target lifted by Piper Sandler from $34.00 to $42.00 in a note issued to investors on Wednesday, The Fly reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price target points to a potential downside of 22.58% from the company's previous close.
Other equities analysts also recently issued reports about the stock. Robert W. Baird downgraded shares of Unity Software from an "outperform" rating to a "neutral" rating in a report on Wednesday, July 13th. Daiwa Capital Markets lowered shares of Unity Software from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $110.00 to $34.00 in a research note on Wednesday, May 11th. DA Davidson lowered their target price on shares of Unity Software from $85.00 to $60.00 in a research note on Thursday, July 14th. The Goldman Sachs Group reduced their price target on Unity Software from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Thursday, April 14th. Finally, Credit Suisse Group lowered their price objective on Unity Software from $137.00 to $105.00 and set an "outperform" rating for the company in a research report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Unity Software presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.13.
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Unity Software Price Performance
NYSE U opened at $54.25 on Wednesday. The company has a market cap of $16.06 billion, a PE ratio of -24.00 and a beta of 2.13. The firm's 50 day moving average price is $40.33 and its 200-day moving average price is $67.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.53 and a current ratio of 3.53. Unity Software has a 52-week low of $29.09 and a 52-week high of $210.00.
Unity Software (NYSE:U – Get Rating) last posted its earnings results on Tuesday, August 9th. The company reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.03. Unity Software had a negative return on equity of 22.81% and a negative net
margin of 54.01%. The company had revenue of $297.00 million during the quarter, compared to analyst estimates of $299.05 million. During the same quarter in the prior year, the business earned ($0.34) earnings per share. Unity Software's revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Unity Software will post -1.68 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director David Helgason sold 2,407 shares of the company's stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $46.29, for a total value of $111,420.03. Following the sale, the director now directly owns 5,322 shares of the company's stock, valued at approximately $246,355.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Unity Software news, Director David Helgason sold 2,407 shares of Unity Software stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $46.29, for a total transaction of $111,420.03. Following the completion of the transaction, the director now owns 5,322 shares in the company, valued at approximately $246,355.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marc Whitten sold 5,487 shares of the company's stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $41.01, for a total value of $225,021.87. Following the completion of the sale, the senior vice president now owns 259,290 shares in the company, valued at approximately $10,633,482.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,905 shares of company stock valued at $2,169,306. 6.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Unity Software
Several institutional investors have recently made changes to their positions in U. Northern Oak Wealth Management Inc. acquired a new stake in shares of Unity Software during the 4th quarter valued at about $25,000. Rockbridge Investment Management LCC purchased a new position in Unity Software during the fourth quarter worth approximately $26,000. San Luis Wealth Advisors LLC purchased a new position in Unity Software during the first quarter worth approximately $31,000. Montag A & Associates Inc. grew its holdings in Unity Software by 666.7% in the fourth quarter. Montag A & Associates Inc. now owns 230 shares of the company's stock valued at $33,000 after purchasing an additional 200 shares during the period. Finally, Tcwp LLC purchased a new stake in shares of Unity Software in the first quarter valued at approximately $26,000. 75.48% of the stock is owned by hedge funds and other institutional investors.
About Unity Software
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Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.
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