Unity Software (NYSE:U) Price Target Raised to $49.00

Unity Software (NYSE:U) had its price target raised by UBS Group from $48.00 to $49.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on U. Zacks Research downgraded Unity Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Piper Sandler reiterated an “overweight” rating on shares of Unity Software in a report on Monday, October 5th. Citigroup raised their target price on Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Bank of America raised Unity Software from a “neutral” rating to a “buy” rating and raised their target price for the stock from $30.00 to $50.00 in a research report on Friday, August 7th. Finally, Raymond James Financial upgraded Unity Software from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.86.

Unity Software Stock Performance

Shares of Unity Software stock opened at $37.75 on Wednesday. The business has a 50-day simple moving average of $42.56 and a 200-day simple moving average of $31.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. Unity Software has a one year low of $16.78 and a one year high of $52.15. The company has a market cap of $16.61 billion, a PE ratio of -27.76, a P/E/G ratio of 1.72 and a beta of 2.11.

Unity Software (NYSE:U) last issued 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. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The firm had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. During the same quarter last year, the company earned $0.18 earnings per share. The firm’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts forecast that Unity Software will post 0.55 EPS for the current fiscal year.

Insider Transactions at Unity Software

In related news, CEO Matthew Bromberg sold 16,383 shares of Unity Software stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $742,313.73. Following the completion of the transaction, the chief executive officer directly owned 1,541,131 shares of the company’s stock, valued at approximately $69,828,645.61. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 on Friday, August 28th. The stock was sold at an average price of $43.51, for a total value of $1,895,121.56. Following the sale, the chief operating officer owned 661,855 shares in the company, valued at approximately $28,797,311.05. The trade was a 6.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 109,547 shares of company stock valued at $4,884,202. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Large investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its holdings in shares of Unity Software by 56.1% during the 3rd quarter. Fortitude Family Office LLC now owns 840 shares of the company’s stock worth $34,000 after acquiring an additional 302 shares during the period. Provenance Wealth Advisors LLC purchased a new stake in Unity Software in the third quarter valued at approximately $37,000. Summit Securities Group LLC purchased a new stake in Unity Software in the first quarter valued at approximately $54,000. Global Retirement Partners LLC purchased a new stake in Unity Software in the second quarter valued at approximately $56,000. Finally, Pacer Advisors Inc. increased its position in Unity Software by 59.5% during the first quarter. Pacer Advisors Inc. now owns 2,626 shares of the company’s stock worth $58,000 after purchasing an additional 980 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

About Unity Software

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.