Unity Software (NYSE:U) Given New $40.00 Price Target at UBS Group

Key Points

• Unity Software had its target price raised by UBS Group from $35.00 to $40.00, indicating a potential upside of 12.97% based on its current price.
• Other analysts have varied ratings, with Citigroup raising its price target to $50.00 and giving a "buy" rating, while Arete downgraded it from "buy" to "neutral" with a $36.00 target.
• Unity Software recently reported a quarterly revenue of $440.94 million, exceeding estimates, despite a negative earnings per share (EPS) of ($0.26).

Unity Software (NYSE:U - Get Free Report) had its target price upped by UBS Group from $35.00 to $40.00 in a report released on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 12.97% from the company's current price.

U has been the topic of a number of other research reports. Citigroup increased their price target on Unity Software from $44.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Jefferies Financial Group increased their price target on Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Wall Street Zen raised Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Morgan Stanley increased their price target on Unity Software from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Arete lowered Unity Software from a "buy" rating to a "neutral" rating and set a $36.00 price target on the stock. in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Unity Software has a consensus rating of "Hold" and an average target price of $33.81.

Unity Software Price Performance

U stock traded up $0.17 on Monday, reaching $35.41. The company had a trading volume of 2,542,250 shares, compared to its average volume of 12,101,229. Unity Software has a 1 year low of $15.33 and a 1 year high of $46.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. The company's fifty day moving average is $40.17 and its 200 day moving average is $30.25. The company has a market cap of $14.96 billion, a P/E ratio of -33.38 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The company had revenue of $440.94 million during the quarter, compared to analysts' expectations of $425.18 million. During the same period in the previous year, the company posted ($0.32) EPS. Unity Software's quarterly revenue was down 1.9% compared to the same quarter last year. On average, research analysts forecast that Unity Software will post -1.25 earnings per share for the current year.

Insider Transactions at Unity Software

In related news, CAO Mark Barrysmith sold 802 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $36.22, for a total value of $29,048.44. Following the completion of the sale, the chief accounting officer directly owned 452,986 shares in the company, valued at approximately $16,407,152.92. This represents a 0.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Anirma Gupta sold 2,734 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $37.85, for a total value of $103,481.90. Following the completion of the sale, the senior vice president owned 175,510 shares of the company's stock, valued at approximately $6,643,053.50. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,236,951 shares of company stock worth $95,081,659 in the last quarter. 3.61% of the stock is owned by corporate insiders.

Institutional Trading of Unity Software

Several large investors have recently added to or reduced their stakes in U. Salem Investment Counselors Inc. purchased a new stake in shares of Unity Software during the third quarter worth about $40,000. CX Institutional purchased a new stake in shares of Unity Software during the second quarter worth about $25,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Unity Software during the second quarter worth about $28,000. Cornerstone Planning Group LLC increased its position in shares of Unity Software by 30,300.0% during the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock worth $25,000 after acquiring an additional 1,212 shares during the last quarter. Finally, Roxbury Financial LLC purchased a new stake in shares of Unity Software during the third quarter worth about $60,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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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