Unity Software (NYSE:U) Stock Price Expected to Rise, Wedbush Analyst Says

Unity Software (NYSE:U - Free Report) had its target price boosted by Wedbush from $31.50 to $39.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

U has been the topic of several other research reports. Barclays dropped their price objective on Unity Software from $26.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Wells Fargo & Company increased their price objective on Unity Software from $19.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Morgan Stanley lowered their price objective on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen downgraded Unity Software from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Needham & Company LLC dropped their target price on Unity Software from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Unity Software currently has an average rating of "Moderate Buy" and a consensus price target of $26.43.

Unity Software Trading Up 0.4%

Shares of U traded up $0.15 during mid-day trading on Thursday, reaching $36.67. The stock had a trading volume of 15,942,263 shares, compared to its average volume of 11,977,614. Unity Software has a 52-week low of $13.90 and a 52-week high of $38.96. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of -32.74 and a beta of 2.29. The business's fifty day moving average is $24.85 and its 200 day moving average is $22.80. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.19. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The firm had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. During the same period in the prior year, the business posted $0.28 EPS. The business's revenue for the quarter was down 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Unity Software will post -1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthew S. Bromberg sold 133,072 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total value of $2,826,449.28. Following the completion of the transaction, the chief executive officer owned 1,222,812 shares of the company's stock, valued at approximately $25,972,526.88. The trade was a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shlomo Dovrat sold 50,000 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the completion of the transaction, the director owned 189,089 shares in the company, valued at approximately $5,674,560.89. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,276,809 shares of company stock valued at $31,561,623. Corporate insiders own 3.61% of the company's stock.

Institutional Investors Weigh In On Unity Software

Several hedge funds have recently made changes to their positions in the business. CX Institutional purchased a new position in Unity Software during the second quarter worth approximately $25,000. Cornerstone Planning Group LLC increased its holdings in shares of Unity Software by 30,300.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock worth $25,000 after buying an additional 1,212 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in Unity Software during the fourth quarter valued at about $28,000. Banque Transatlantique SA acquired a new stake in Unity Software during the first quarter worth about $28,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Unity Software in the fourth quarter valued at about $36,000. Institutional investors and hedge funds 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.