Unity Software (NYSE:U) Upgraded at Wall Street Zen

Key Points

• Unity Software has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive analyst sentiment towards the stock.
• Various analysts have increased their price targets for Unity Software, with notable raises by JMP Securities to $35 and Morgan Stanley to $40, suggesting a bullish outlook.
• Despite these upgrades, Unity Software shares recently traded down 1.0%, and the company reported a quarterly loss, missing earnings expectations while revenue fell slightly year-over-year.

Unity Software (NYSE:U - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

U has been the topic of several other reports. Jefferies Financial Group boosted their price objective on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Bank of America began coverage on shares of Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price objective on the stock. BTIG Research cut shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price target on the stock. in a research note on Wednesday, July 23rd. Stifel Nicolaus lowered their price target on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Needham & Company LLC upped their price target on shares of Unity Software from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.20.

Unity Software Stock Performance

Shares of Unity Software stock traded up $3.91 during trading on Friday, reaching $37.10. The company's stock had a trading volume of 13,971,500 shares, compared to its average volume of 12,420,493. The company has a 50-day moving average price of $28.63 and a two-hundred day moving average price of $24.10. The firm has a market cap of $15.68 billion, a PE ratio of -35.05 and a beta of 2.32. Unity Software has a fifty-two week low of $15.21 and a fifty-two week high of $38.96. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last announced 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). The business had revenue of $440.94 million during the quarter, compared to analyst estimates of $425.18 million. Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The business's revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.32) earnings per share. On average, analysts forecast that Unity Software will post -1.25 EPS for the current year.

Insiders Place Their Bets

In other Unity Software news, COO Alexander Blum sold 2,582 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $32.99, for a total value of $85,180.18. Following the transaction, the chief operating officer directly owned 716,926 shares in the company, valued at approximately $23,651,388.74. This represents a 0.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tomer Bar-Zeev sold 50,000 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $33.18, for a total transaction of $1,659,000.00. Following the completion of the transaction, the director owned 2,148,146 shares in the company, valued at approximately $71,275,484.28. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,212,724 shares of company stock worth $31,284,962. 3.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in U. CX Institutional purchased a new position in shares of Unity Software during the 2nd quarter worth about $25,000. Atlantic Union Bankshares Corp purchased a new position in shares of Unity Software during the 2nd quarter worth about $28,000. Cornerstone Planning Group LLC lifted 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 acquiring an additional 1,212 shares during the period. Anderson Financial Strategies LLC purchased a new position in shares of Unity Software during the 4th quarter worth about $28,000. Finally, Banque Transatlantique SA purchased a new position in shares of Unity Software during the 1st quarter worth about $28,000. 73.46% of the stock is currently owned by hedge funds and other 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.