Barclays Boosts Unity Software (NYSE:U) Price Target to $30.00

Key Points

• Barclays has raised its price target for Unity Software from $25.00 to $30.00 while maintaining an "equal weight" rating, which reflects a potential downside of about 8.99% from its recent close.
• Analysts have issued mixed ratings for Unity Software, with two sell ratings, nine holds, eight buys, and two strong buys; the average target price across analysts stands at $28.68.
• Despite a revenue of $440.94 million in the last quarter, Unity reported earnings per share of ($0.26), missing expectations and indicating a negative net margin of 25.21%.

Unity Software (NYSE:U - Get Free Report) had its target price increased by equities researchers at Barclays from $25.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential downside of 8.99% from the company's previous close.

A number of other equities research analysts have also recently issued reports on the stock. BTIG Research cut shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 target price on the stock. in a report on Wednesday, July 23rd. Citigroup increased their price target on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group increased their price target on shares of Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Needham & Company LLC increased their target price on Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Wedbush lifted their price objective on Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $28.68.

Unity Software Stock Performance

NYSE U traded up $1.04 on Thursday, reaching $32.96. The stock had a trading volume of 4,212,438 shares, compared to its average volume of 12,338,751. The firm has a fifty day moving average of $28.16 and a two-hundred day moving average of $23.85. The company has a market cap of $13.70 billion, a P/E ratio of -29.46 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74. Unity Software has a 1-year low of $13.94 and a 1-year high of $38.96.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The firm had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same period in the prior year, the company posted ($0.32) EPS. The business's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Unity Software will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In other Unity Software news, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the sale, the director owned 189,089 shares of the company's stock, valued at $5,674,560.89. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark Barrysmith sold 1,011 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $32.30, for a total value of $32,655.30. Following the transaction, the chief accounting officer owned 464,372 shares of the company's stock, valued at approximately $14,999,215.60. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,210,142 shares of company stock worth $31,199,782 in the last quarter. 3.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Unity Software

A number of institutional investors and hedge funds have recently bought and sold shares of U. Atreides Management LP boosted its holdings in shares of Unity Software by 146.7% in the first quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock valued at $184,752,000 after acquiring an additional 5,607,572 shares in the last quarter. Slate Path Capital LP acquired a new position in Unity Software during the fourth quarter worth approximately $62,387,000. Broad Peak Investment Advisers Pte Ltd purchased a new stake in Unity Software during the first quarter worth approximately $47,648,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Unity Software during the first quarter valued at approximately $43,265,000. Finally, Vanguard Group Inc. lifted its stake in shares of Unity Software by 5.9% in the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after acquiring an additional 1,841,486 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Company Profile

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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