JMP Securities Boosts Unity Software (NYSE:U) Price Target to $35.00

Key Points

• JMP Securities has raised the target price for Unity Software from $30.00 to $35.00, indicating a potential upside of 6.12% from the previous close.
• Other brokerages have mixed opinions on Unity Software, with Citigroup increasing their target to $44.00 for a "buy" rating, while Bank of America set an "underperform" rating with a target of $15.00.
• The company's stock recently saw a price increase of 3.3%, with a current trading price around $32.98 and a consensus rating of "Hold" from analysts.

Unity Software (NYSE:U - Free Report) had its price objective upped by JMP Securities from $30.00 to $35.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other brokerages have also weighed in on U. Wall Street Zen lowered shares of Unity Software from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Bank of America assumed coverage on shares of Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price target on the stock. Needham & Company LLC raised their price target on shares of Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Unity Software from $19.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, Citigroup raised their price target on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.85.

Unity Software Price Performance

Shares of U stock traded down $0.35 during mid-day trading on Thursday, hitting $33.22. 12,034,445 shares of the stock were exchanged, compared to its average volume of 16,564,755. The firm has a fifty day moving average of $28.50 and a 200 day moving average of $24.01. The company has a quick ratio of 2.74, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. Unity Software has a 52-week low of $14.68 and a 52-week high of $38.96. The company has a market cap of $14.04 billion, a PE ratio of -31.34 and a beta of 2.32.

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

Insider Buying and Selling at Unity Software

In other news, CAO Mark Barrysmith sold 1,011 shares of Unity Software stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $32.30, for a total transaction of $32,655.30. Following the sale, the chief accounting officer owned 464,372 shares of the company's stock, valued at approximately $14,999,215.60. The trade was a 0.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Helgason sold 261,473 shares of Unity Software stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the sale, the director directly owned 7,489,173 shares in the company, valued at approximately $192,471,746.10. The trade was a 3.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,210,142 shares of company stock worth $31,199,782 in the last quarter. Insiders own 3.61% of the company's stock.

Institutional Trading of Unity Software

Several institutional investors have recently made changes to their positions in U. Cornerstone Planning Group LLC increased its holdings in Unity Software by 30,300.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after purchasing an additional 1,212 shares during the last quarter. CX Institutional acquired a new stake in Unity Software in the 2nd quarter valued at approximately $25,000. Anderson Financial Strategies LLC acquired a new stake in Unity Software in the 4th quarter valued at approximately $28,000. Banque Transatlantique SA acquired a new stake in Unity Software in the 1st quarter valued at approximately $28,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Unity Software in the 2nd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

About Unity Software

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.