Brokerages Set Unity Software Inc. (NYSE:U) Target Price at $128.30

Unity Software Inc. (NYSE:U) has received a consensus recommendation of “Buy” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $128.30.

Several brokerages recently issued reports on U. Credit Suisse Group began coverage on Unity Software in a report on Monday, April 5th. They issued an “outperform” rating and a $170.00 price target for the company. Oppenheimer upgraded shares of Unity Software from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 20th. Wedbush cut their target price on shares of Unity Software from $175.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 12th. Stifel Nicolaus upgraded Unity Software from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Wednesday, May 12th. Finally, Morgan Stanley started coverage on Unity Software in a research note on Wednesday, June 30th. They set an “equal weight” rating and a $115.00 price objective on the stock.

In related news, SVP Clive Downie sold 33,333 shares of the stock in a transaction that occurred on Friday, July 2nd. The stock was sold at an average price of $106.19, for a total value of $3,539,631.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John S. Riccitiello sold 217,124 shares of Unity Software stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $93.90, for a total value of $20,387,943.60. Following the sale, the chief executive officer now directly owns 4,766,824 shares in the company, valued at approximately $447,604,773.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 953,585 shares of company stock valued at $92,408,152.

Institutional investors and hedge funds have recently modified their holdings of the company. Carroll Financial Associates Inc. acquired a new position in shares of Unity Software during the first quarter valued at approximately $25,000. BerganKDV Wealth Management LLC acquired a new position in shares of Unity Software during the 1st quarter valued at $25,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Unity Software in the 1st quarter worth $30,000. Wagner Wealth Management LLC acquired a new stake in shares of Unity Software in the first quarter valued at $31,000. Finally, Sandy Spring Bank boosted its stake in Unity Software by 494.7% during the first quarter. Sandy Spring Bank now owns 446 shares of the company’s stock valued at $45,000 after buying an additional 371 shares in the last quarter. 75.72% of the stock is currently owned by institutional investors.

NYSE:U traded up $0.77 during trading hours on Thursday, reaching $104.08. 69,086 shares of the company were exchanged, compared to its average volume of 2,542,248. The stock has a market cap of $29.08 billion and a price-to-earnings ratio of -89.06. The company’s 50 day moving average is $99.95. Unity Software has a 52-week low of $65.11 and a 52-week high of $174.94.

Unity Software (NYSE:U) last issued its earnings results on Tuesday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $234.80 million during the quarter, compared to analysts’ expectations of $217.08 million. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period last year, the business posted ($0.11) earnings per share. As a group, sell-side analysts expect that Unity Software will post -1.19 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Unity Software (NYSE:U)

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