Unity Software (NYSE:U) Price Target Lowered to $39.00 at BTIG Research

Key Points

• BTIG Research trimmed its price target on Unity from $41 to $39 but kept a "buy" rating, with the new target implying about a 128.55% upside from the previous close.
• Market consensus has an average target of roughly $38.83 and a MarketBeat rating of Moderate Buy, based on 1 Strong Buy, 13 Buy, 8 Hold and 1 Sell from covering analysts.
• Unity beat the most recent quarter (EPS $0.24 vs $0.20; revenue $503.09M, +10.1% YoY) but remains unprofitable (net margin -21.77%), with shares trading near $17.06 and insiders selling about 41,684 shares (~$773k) over the past 90 days.

Unity Software (NYSE:U - Get Free Report) had its price objective decreased by analysts at BTIG Research from $41.00 to $39.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price indicates a potential upside of 128.55% from the company's previous close.

Several other analysts have also commented on U. Jefferies Financial Group increased their price target on shares of Unity Software from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, January 5th. UBS Group cut their price objective on shares of Unity Software from $46.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 10th. Freedom Capital upgraded shares of Unity Software to a "strong-buy" rating in a research note on Thursday, January 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Unity Software in a research report on Wednesday, January 21st. Finally, Wedbush restated an "outperform" rating and issued a $30.00 target price on shares of Unity Software in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Unity Software presently has an average rating of "Moderate Buy" and a consensus target price of $38.83.

Unity Software Trading Down 4.1%

Shares of NYSE:U opened at $17.06 on Friday. The company has a market capitalization of $7.39 billion, a PE ratio of -17.78, a P/E/G ratio of 9.55 and a beta of 2.14. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. Unity Software has a 12-month low of $15.33 and a 12-month high of $52.15. The business's fifty day simple moving average is $24.77 and its 200-day simple moving average is $35.99.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The firm had revenue of $503.09 million during the quarter, compared to analysts' expectations of $490.64 million. During the same period in the prior year, the business posted ($0.30) EPS. The firm's quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, COO Alexander Blum sold 2,541 shares of the business's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.76, for a total transaction of $47,669.16. Following the sale, the chief operating officer owned 548,425 shares of the company's stock, valued at approximately $10,288,453. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jarrod Yahes sold 6,205 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $21.03, for a total transaction of $130,491.15. Following the transaction, the chief financial officer owned 728,381 shares in the company, valued at $15,317,852.43. The trade was a 0.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 41,684 shares of company stock worth $773,350. Insiders own 3.61% of the company's stock.

Institutional Investors Weigh In On Unity Software

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new stake in shares of Unity Software during the third quarter valued at $27,000. REAP Financial Group LLC acquired a new position in shares of Unity Software in the 4th quarter valued at $28,000. Larson Financial Group LLC lifted its position in Unity Software by 88.1% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company's stock worth $29,000 after acquiring an additional 341 shares during the period. V Square Quantitative Management LLC purchased a new stake in Unity Software during the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc purchased a new stake in Unity Software during the 3rd quarter valued at about $33,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity's technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company's core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

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