Unity Software Inc. (NYSE:U) Stock Has Consensus Price Target of $45.16 According to Brokerages

Shares of Unity Software Inc. (NYSE:U) have earned a consensus rating of “Moderate Buy” from the twenty-three research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $45.16.

U has been the topic of a number of recent research reports. Raymond James Financial initiated coverage on Unity Software in a research report on Monday, June 29th. They issued a “market perform” rating on the stock. Wells Fargo & Company raised their price target on shares of Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price objective for the company in a research note on Friday, August 7th. Citigroup upped their price objective on shares of Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Piper Sandler increased their price objective on shares of Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th.

Unity Software Stock Performance

Shares of U stock opened at $39.58 on Friday. The business has a fifty day moving average of $40.76 and a 200 day moving average of $31.19. Unity Software has a 1 year low of $16.78 and a 1 year high of $52.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $17.42 billion, a price-to-earnings ratio of -29.10, a price-to-earnings-growth ratio of 1.75 and a beta of 2.06.

Unity Software (NYSE:U) last posted its quarterly 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. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The business had revenue of $546.47 million for the quarter, compared to the consensus estimate of $514.72 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, research analysts expect that Unity Software will post 0.55 earnings per share for the current year.

Insider Buying and Selling at Unity Software

In other Unity Software news, SVP Rebecca Boyden sold 1,032 shares of Unity Software stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total transaction of $46,770.24. Following the completion of the transaction, the senior vice president owned 308,413 shares in the company, valued at approximately $13,977,277.16. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 43,556 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $43.51, for a total value of $1,895,121.56. Following the completion of the transaction, the chief operating officer directly owned 661,855 shares of the company’s stock, valued at approximately $28,797,311.05. This trade represents a 6.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 109,547 shares of company stock valued at $4,884,202 in the last three months. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of Unity Software during the 1st quarter worth approximately $54,534,000. Entropy Technologies LP purchased a new position in shares of Unity Software during the 1st quarter valued at approximately $1,985,000. Corient Private Wealth LP lifted its stake in shares of Unity Software by 194.1% in the 2nd quarter. Corient Private Wealth LP now owns 48,691 shares of the company’s stock valued at $1,392,000 after purchasing an additional 32,135 shares during the period. HB Wealth Management LLC lifted its stake in shares of Unity Software by 10.8% in the 2nd quarter. HB Wealth Management LLC now owns 274,554 shares of the company’s stock valued at $7,847,000 after purchasing an additional 26,762 shares during the period. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in Unity Software by 1,196.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 150,611 shares of the company’s stock worth $4,304,000 after buying an additional 138,995 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other 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.