Unity Software Inc. (NYSE:U) Receives $24.47 Consensus Target Price from Brokerages

Unity Software Inc. (NYSE:U) has received a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $24.80.

U has been the subject of several recent analyst reports. Barclays cut their target price on shares of Unity Software from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Wall Street Zen cut shares of Unity Software from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Jefferies Financial Group upgraded shares of Unity Software from a “hold” rating to a “buy” rating and boosted their price objective for the company from $22.00 to $29.00 in a research report on Friday, May 30th. Needham & Company LLC decreased their target price on shares of Unity Software from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, UBS Group decreased their target price on shares of Unity Software from $30.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th.

Unity Software Stock Up 5.4%

NYSE:U opened at $29.37 on Friday. The stock’s fifty day moving average price is $23.47 and its two-hundred day moving average price is $22.41. Unity Software has a 52-week low of $13.90 and a 52-week high of $30.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market cap of $12.21 billion, a price-to-earnings ratio of -26.22 and a beta of 2.29.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating 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 company had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.77 million. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts anticipate that Unity Software will post -1.25 EPS for the current year.

Insider Transactions at Unity Software

In other news, CEO Matthew S. Bromberg sold 133,072 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the sale, the chief executive officer owned 1,222,812 shares in the company, valued at approximately $25,972,526.88. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.39, for a total transaction of $6,597,500.00. Following the sale, the director owned 2,398,146 shares in the company, valued at approximately $63,287,072.94. This trade represents a 9.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,177,944 shares of company stock worth $28,419,375. 3.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

Hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Unity Software during the fourth quarter worth about $269,320,000. Atreides Management LP raised its holdings in shares of Unity Software by 146.7% during the first quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock valued at $184,752,000 after purchasing an additional 5,607,572 shares during the last quarter. Slate Path Capital LP purchased a new stake in Unity Software during the fourth quarter valued at approximately $62,387,000. Broad Peak Investment Advisers Pte Ltd purchased a new stake in Unity Software during the first quarter valued at approximately $47,648,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Unity Software in the first quarter worth approximately $43,265,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.