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

Unity Software (NYSE:U) had its price target raised by Morgan Stanley from $26.00 to $32.00 in a research note published on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. JMP Securities restated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Barclays increased their price objective on shares of Unity Software from $18.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Friday. Jefferies Financial Group increased their price target on shares of Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Friday. Finally, Needham & Company LLC boosted their price objective on shares of Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and a consensus price target of $25.96.

Unity Software Trading Up 1.1 %

Shares of Unity Software stock opened at $28.31 on Friday. Unity Software has a 12-month low of $13.90 and a 12-month high of $33.43. The company has a 50-day simple moving average of $22.53 and a 200 day simple moving average of $21.08. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. Analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, Director David Helgason sold 7,860 shares of Unity Software stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $26.45, for a total transaction of $207,897.00. Following the transaction, the director now directly owns 10,493 shares in the company, valued at approximately $277,539.85. The trade was a 42.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Felix The sold 20,000 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $27.43, for a total value of $548,600.00. Following the completion of the sale, the senior vice president now owns 391,960 shares of the company’s stock, valued at $10,751,462.80. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 762,597 shares of company stock worth $18,732,374. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Unity Software

Several institutional investors and hedge funds have recently modified their holdings of the business. Anderson Financial Strategies LLC bought a new position in Unity Software in the fourth quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in shares of Unity Software during the fourth quarter worth $30,000. Principal Securities Inc. lifted its position in Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after acquiring an additional 477 shares in the last quarter. Planning Capital Management Corp bought a new position in Unity Software during the 3rd quarter worth about $34,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Unity Software during the 4th quarter worth about $36,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.