Unity Software (NYSE:U) Given New $42.00 Price Target at Wedbush

Key Points

• Wedbush raised Unity Software's price target from $41.00 to $42.00, reflecting a potential upside of 10.27% based on the current stock price and maintaining an "outperform" rating.
• Unity Software reported a quarterly earnings miss with an EPS of ($0.26), slightly below the consensus estimate of ($0.25), despite achieving revenue of $440.94 million, which surpassed expectations.
• Insiders have sold over 2.3 million shares of Unity Software stock recently, with significant sales from the COO and a director, indicating notable insider trading activity.

Unity Software (NYSE:U - Get Free Report) had its target price boosted by Wedbush from $41.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's price target indicates a potential upside of 10.27% from the company's current price.

Several other equities analysts have also weighed in on the company. UBS Group raised their target price on Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. BTIG Research lowered Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 target price for the company. in a report on Wednesday, July 23rd. Jefferies Financial Group lifted their price target on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Citigroup increased their target price on Unity Software from $44.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Unity Software in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Unity Software presently has a consensus rating of "Hold" and an average target price of $32.12.

Unity Software Trading Up 0.5%

NYSE U traded up $0.20 on Monday, hitting $38.09. 876,482 shares of the stock were exchanged, compared to its average volume of 12,188,021. The company's 50-day moving average price is $39.46 and its two-hundred day moving average price is $29.16. The company has a market capitalization of $16.09 billion, a price-to-earnings ratio of -36.13 and a beta of 2.32. Unity Software has a 52-week low of $15.33 and a 52-week high of $46.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly 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 return on equity of 13.59% and a negative net margin of 24.38%.The company had revenue of $440.94 million during the quarter, compared to analysts' expectations of $425.18 million. During the same period last year, the company earned ($0.32) earnings per share. Unity Software's revenue for the quarter was down 1.9% compared to the same quarter last year. Research analysts predict that Unity Software will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In related news, COO Alexander Blum sold 63,813 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $39.41, for a total value of $2,514,870.33. Following the sale, the chief operating officer directly owned 603,811 shares in the company, valued at $23,796,191.51. This trade represents a 9.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shlomo Dovrat sold 50,000 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the sale, the director directly owned 189,089 shares in the company, valued at $5,674,560.89. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,334,426 shares of company stock worth $98,130,784. 3.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of Unity Software by 10.8% during the third quarter. GAMMA Investing LLC now owns 2,967 shares of the company's stock worth $119,000 after buying an additional 288 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Unity Software by 28.4% during the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company's stock worth $45,000 after buying an additional 412 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Unity Software by 4.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company's stock valued at $261,000 after buying an additional 454 shares during the last quarter. Captrust Financial Advisors grew its stake in Unity Software by 2.1% in the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company's stock valued at $540,000 after buying an additional 462 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its holdings in shares of Unity Software by 11.1% during the second quarter. Resona Asset Management Co. Ltd. now owns 5,116 shares of the company's stock worth $124,000 after acquiring an additional 510 shares during the period. 73.46% of the stock is owned by 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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