Unity Software (NYSE:U) Stock Price Expected to Rise, Benchmark Analyst Says

Unity Software (NYSE:U) had its price target raised by investment analysts at Benchmark from $10.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm presently has a “sell” rating on the stock. Benchmark’s price objective would suggest a potential downside of 26.83% from the company’s current price.

Several other research analysts also recently commented on the stock. Needham & Company LLC lifted their target price on shares of Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus lifted their target price on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. The Goldman Sachs Group decreased their target price on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. UBS Group lifted their target price on shares of Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Unity Software has an average rating of “Hold” and an average price target of $23.35.

Unity Software Stock Down 7.7 %

Shares of U opened at $20.50 on Friday. 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 $20.42 and a 200-day moving average price of $18.94.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. The firm had revenue of $449.30 million during the quarter, compared to analyst estimates of $438.37 million. During the same period in the previous year, the business posted ($0.26) EPS. The business’s quarterly revenue was down 15.8% on a year-over-year basis. As a group, research analysts forecast that Unity Software will post -1.78 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 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. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was 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 U. Capital International Investors lifted its stake in Unity Software by 426.1% during the 1st quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after acquiring an additional 6,376,034 shares during the period. Capital Research Global Investors lifted its stake in Unity Software by 18.7% during the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock valued at $227,603,000 after acquiring an additional 1,342,787 shares during the period. Van ECK Associates Corp lifted its stake in Unity Software by 35.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company’s stock valued at $31,805,000 after acquiring an additional 507,274 shares during the period. Bank of New York Mellon Corp lifted its stake in Unity Software by 40.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock valued at $23,929,000 after acquiring an additional 424,806 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in Unity Software by 161.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 579,179 shares of the company’s stock valued at $9,417,000 after acquiring an additional 357,500 shares during the period. 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.