Unity Software (NYSE:U) Price Target Raised to $40.00

Key Points

• Needham & Company LLC has raised its price target for Unity Software from $30.00 to $40.00, suggesting a potential upside of 25.14% from its previous close.
• Analyst ratings for Unity Software are mixed, with ten hold ratings, two strong buy ratings, and two sell ratings among the research reports reviewed.
• In recent insider trading, Director David Helgason sold 261,473 shares at an average price of $25.70, reducing his ownership by 3.37%.

Unity Software (NYSE:U - Free Report) had its target price increased by Needham & Company LLC from $30.00 to $40.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Bank of America initiated coverage on Unity Software in a report on Thursday, June 26th. They set an "underperform" rating and a $15.00 target price for the company. Stifel Nicolaus dropped their price objective on Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. UBS Group raised their target price on shares of Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley lowered their price target on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, BTIG Research cut shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price objective on the stock. in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $29.85.

Unity Software Price Performance

NYSE U traded down $0.35 on Wednesday, reaching $33.22. 12,034,445 shares of the company's stock traded hands, compared to its average volume of 16,564,755. Unity Software has a 12 month low of $14.68 and a 12 month high of $38.96. The stock has a market cap of $14.04 billion, a PE ratio of -31.34 and a beta of 2.32. The stock has a 50-day simple moving average of $28.50 and a 200 day simple moving average of $24.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.74.

Unity Software (NYSE:U - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.26) 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 business had revenue of $440.94 million during the quarter, compared to analysts' expectations of $425.18 million. During the same quarter in the previous year, the business earned ($0.32) EPS. Unity Software's revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, research analysts predict that Unity Software will post -1.25 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James M. Whitehurst sold 72,955 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total value of $1,549,564.20. Following the sale, the director directly owned 240,311 shares of the company's stock, valued at $5,104,205.64. The trade was a 23.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.39, for a total value of $6,597,500.00. Following the transaction, the director owned 2,398,146 shares of the company's stock, valued at $63,287,072.94. The trade was a 9.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,210,142 shares of company stock worth $31,199,782 over the last 90 days. Corporate insiders own 3.61% of the company's stock.

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CX Institutional purchased a new stake in shares of Unity Software during the 2nd quarter valued at about $25,000. Atlantic Union Bankshares Corp bought a new position in Unity Software during the second quarter valued at approximately $28,000. Cornerstone Planning Group LLC boosted its holdings in Unity Software by 30,300.0% in the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock worth $25,000 after purchasing an additional 1,212 shares during the last quarter. Anderson Financial Strategies LLC bought a new stake in Unity Software in the 4th quarter worth approximately $28,000. Finally, Banque Transatlantique SA bought a new stake in Unity Software in the 1st quarter worth approximately $28,000. 73.46% of the stock is currently 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.