Benchmark Forecasts Strong Price Appreciation for Unity Software (NYSE:U) Stock

Unity Software (NYSE:U) had its price target upped by equities research analysts at Benchmark from $10.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. Benchmark’s price target would suggest a potential downside of 33.21% from the stock’s current price.

Several other research analysts also recently commented on U. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research note on Friday, September 13th. The Goldman Sachs Group reduced their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Oppenheimer reissued a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Wedbush boosted their price objective on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Finally, Morgan Stanley raised shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Unity Software has a consensus rating of “Hold” and an average price target of $23.96.

Unity Software Trading Up 1.1 %

Shares of U opened at $22.46 on Friday. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of -10.96 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. Unity Software has a fifty-two week low of $13.90 and a fifty-two week high of $43.54. The firm has a 50 day moving average price of $20.22 and a 200-day moving average price of $18.97.

Unity Software (NYSE:U) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The company had revenue of $449.30 million for the quarter, compared to the consensus estimate of $438.37 million. During the same period in the previous year, the firm earned ($0.26) earnings per share. The firm’s revenue for the quarter was down 15.8% on a year-over-year basis. As a group, equities research analysts forecast that Unity Software will post -1.86 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Felix The sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Unity Software news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Felix The sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 281,600 shares of company stock worth $5,714,000 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Unity Software during the 1st quarter valued at about $3,878,000. Magnetar Financial LLC purchased a new stake in shares of Unity Software during the 2nd quarter valued at about $2,535,000. Vanguard Group Inc. increased its position in shares of Unity Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after purchasing an additional 208,566 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Unity Software by 187.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company’s stock valued at $9,440,000 after purchasing an additional 230,696 shares during the last quarter. Finally, Creative Planning increased its holdings in Unity Software by 111.7% in the 2nd quarter. Creative Planning now owns 135,195 shares of the company’s stock worth $2,198,000 after acquiring an additional 71,325 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

About Unity Software

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.