Barclays Raises Unity Software (NYSE:U) Price Target to $18.00

Unity Software (NYSE:U) had its target price lifted by Barclays from $16.00 to $18.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the company. Macquarie raised their price target on Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 17th. Needham & Company LLC raised their price target on Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group reduced their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. JMP Securities restated a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Finally, Stifel Nicolaus raised their price target on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and a consensus target price of $23.35.

Unity Software Price Performance

Shares of Unity Software stock opened at $20.50 on Friday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $8.14 billion, a PE ratio of -10.05 and a beta of 2.29. The business’s 50-day moving average price is $20.42 and its 200-day moving average price is $18.91. Unity Software has a 12 month low of $13.90 and a 12 month high of $43.54.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.12. The firm had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%. The company’s revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.26) EPS. Sell-side analysts forecast that Unity Software will post -1.78 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its stake in Unity Software by 7.1% during the third quarter. Primecap Management Co. CA now owns 811,994 shares of the company’s stock valued at $18,367,000 after buying an additional 53,541 shares during the last quarter. LMR Partners LLP purchased a new position in Unity Software during the third quarter valued at $611,000. CIBC Asset Management Inc raised its stake in Unity Software by 2,665.4% during the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after buying an additional 330,088 shares during the last quarter. Planning Capital Management Corp purchased a new position in Unity Software during the third quarter valued at $34,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Unity Software during the third quarter valued at $5,022,000. 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.