Unity Software Inc. (NYSE:U) Stock Has Average Target Price of $45.16 According to Analysts

Unity Software Inc. (NYSE:U) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seventeen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $45.16.

Several equities research analysts have weighed in on U shares. Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, August 7th. Wells Fargo & Company lifted their price objective on shares of Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Citizens Jmp boosted their price objective on shares of Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Raymond James Financial assumed coverage on Unity Software in a research report on Monday, June 29th. They issued a “market perform” rating on the stock. Finally, Zacks Research upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th.

Insider Transactions at Unity Software

In other news, SVP Rebecca Boyden sold 1,032 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the transaction, the senior vice president directly owned 308,413 shares in the company, valued at $13,977,277.16. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew Bromberg sold 16,383 shares of Unity Software stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $742,313.73. Following the sale, the chief executive officer directly owned 1,541,131 shares of the company’s stock, valued at $69,828,645.61. This trade represents a 1.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 109,547 shares of company stock valued at $4,884,202 over the last three months. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Atreides Management LP purchased a new position in Unity Software during the second quarter valued at approximately $292,826,000. Geode Capital Management LLC grew its position in Unity Software by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock valued at $258,547,000 after buying an additional 328,595 shares during the period. Norges Bank acquired a new stake in Unity Software during the fourth quarter valued at $230,285,000. Resolute Advisors LLC increased its holdings in Unity Software by 473.3% in the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock valued at $136,219,000 after buying an additional 3,934,840 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Unity Software by 52.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock valued at $93,089,000 after buying an additional 1,465,962 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

U opened at $43.57 on Friday. The firm has a market capitalization of $19.17 billion, a PE ratio of -32.04, a price-to-earnings-growth ratio of 1.91 and a beta of 2.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The business’s 50-day moving average is $41.58 and its two-hundred day moving average is $31.60. Unity Software has a 1 year low of $16.78 and a 1 year high of $52.15.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The business had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 24.0% on a year-over-year basis. Research analysts anticipate that Unity Software will post 0.55 earnings per share for the current fiscal year.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and entertainment.

The company’s core offering is the Unity development platform, which includes tools for graphics, physics, animation, audio, scripting and cross-platform deployment.