Unity Software (NYSE:U) Stock Price Target Raised at BTIG Research

Unity Software (NYSE:U) had its price target boosted by stock analysts at BTIG Research from $53.00 to $60.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research‘s target price would indicate a potential upside of 26.68% from the company’s previous close.

A number of other brokerages have also recently issued reports on U. Citizens Jmp lifted their price objective on Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Bank of America raised Unity Software from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $50.00 in a research note on Friday, August 7th. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target for the company in a report on Friday, August 7th. Wedbush lifted their price target on Unity Software from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 14th. Finally, Raymond James Financial raised Unity Software from a “market perform” rating to an “outperform” rating and set a $54.00 price target for the company in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Unity Software has an average rating of “Moderate Buy” and an average target price of $49.20.

Unity Software Stock Up 11.5%

Shares of NYSE U traded up $4.90 on Thursday, reaching $47.36. 30,920,985 shares of the company’s stock traded hands, compared to its average volume of 12,648,466. The business’s 50 day simple moving average is $42.23 and its two-hundred day simple moving average is $31.76. Unity Software has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a market cap of $20.84 billion, a price-to-earnings ratio of -34.87, a price-to-earnings-growth ratio of 1.76 and a beta of 2.08. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.41. The firm had revenue of $622.09 million for the quarter, compared to analysts’ expectations of $567.03 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%. The business’s revenue for the quarter was up 32.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 EPS. As a group, equities research analysts forecast that Unity Software will post 0.55 EPS for the current fiscal year.

Insider Activity

In related news, COO Alexander Blum sold 43,556 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $43.51, for a total value of $1,895,121.56. Following the transaction, the chief operating officer directly owned 661,855 shares of the company’s stock, valued at approximately $28,797,311.05. This represents a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Rebecca Boyden sold 1,032 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 109,547 shares of company stock valued at $4,884,202 in the last quarter. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Several large investors have recently bought and sold shares of U. Atreides Management LP purchased a new position in Unity Software in the 2nd quarter worth about $292,826,000. Resolute Advisors LLC boosted its holdings in shares of Unity Software by 473.3% during the 2nd quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock valued at $136,219,000 after acquiring an additional 3,934,840 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Unity Software by 9,886.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,645,007 shares of the company’s stock valued at $108,260,000 after acquiring an additional 2,618,522 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Unity Software by 52.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock valued at $93,089,000 after acquiring an additional 1,465,962 shares during the last quarter. Finally, Amundi grew its stake in shares of Unity Software by 4.7% in the second quarter. Amundi now owns 2,334,695 shares of the company’s stock worth $66,726,000 after acquiring an additional 105,268 shares during the period. 73.46% of the stock is currently owned by institutional investors.

Key Headlines Impacting Unity Software

Here are the key news stories impacting Unity Software this week:

• Positive Sentiment: Unity reported Q3 revenue of $622.1 million, up 32.2% year over year and ahead of the roughly $567 million analyst estimate. Earnings of $0.44 per share also beat estimates, though consensus figures varied among reports. Zacks Q3 results
• Positive Sentiment: The quarter included $122 million in GAAP net income, compared with a loss a year earlier—the company’s first quarterly GAAP profit since going public. The result reinforces optimism that growth in its advertising business and cost discipline are improving profitability. Unity first GAAP profit
• Positive Sentiment: Reports said Unity’s fourth-quarter outlook was well above Wall Street forecasts, adding to the positive earnings surprise and suggesting momentum could continue. Results and guidance
• Positive Sentiment: Investors purchased 44,938 call options, 38% above typical daily volume, a sign of increased bullish positioning, though options trading does not guarantee future share performance.
• Neutral Sentiment: Unity’s PvX partnership offers eligible studios non-dilutive financing for user acquisition, potentially bringing more advertising activity into Unity’s ecosystem; the longer-term revenue impact remains to be seen. PvX partnership analysis
• Negative Sentiment: One report noted that Unity’s creator-tools business is slowing, a counterpoint to advertising-led growth and a risk to the breadth of its recovery. Earnings reaction

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time content. Its core product is the Unity engine, a development platform used to build video games and experiences for mobile devices, personal computers, consoles, augmented and virtual reality systems, and other platforms.

The company also provides tools and services that support the development and operation of interactive applications, including collaboration and cloud-based development tools, multiplayer and voice communication capabilities, analytics, advertising, and in-app monetization solutions.