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

Unity Software (NYSE:U) had its target price hoisted by equities researchers at Wedbush from $41.00 to $42.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 15.40% from the stock’s previous close.

Several other equities research analysts have also commented on U. Wells Fargo & Company boosted their price target on Unity Software from $24.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. BTIG Research lowered Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a research note on Wednesday, July 23rd. UBS Group upped their target price on Unity Software from $22.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Bank of America began coverage on Unity Software in a research note on Thursday, June 26th. They issued an “underperform” rating and a $15.00 target price on the stock. Finally, Hsbc Global Res lowered Unity Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.65.

Unity Software Price Performance

Shares of NYSE:U opened at $36.39 on Monday. The business’s 50 day simple moving average is $39.61 and its 200-day simple moving average is $29.32. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of -34.33 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. Unity Software has a 12 month low of $15.33 and a 12 month high of $46.94.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The firm had revenue of $440.94 million for the quarter, compared to analysts’ expectations of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.Unity Software’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.32) EPS. As a group, equities analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $39.83, for a total transaction of $9,957,500.00. Following the completion of the sale, the director directly owned 1,548,146 shares in the company, valued at $61,662,655.18. This represents a 13.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew S. Bromberg sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $40.03, for a total value of $4,803,600.00. Following the sale, the chief executive officer owned 1,222,812 shares of the company’s stock, valued at approximately $48,949,164.36. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,284,426 shares of company stock worth $96,630,284 in the last three months. 3.61% of the stock is currently owned by insiders.

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently made changes to their positions in U. GAMMA Investing LLC increased its holdings in shares of Unity Software by 3,279.2% during the 1st quarter. GAMMA Investing LLC now owns 55,283 shares of the company’s stock worth $1,083,000 after buying an additional 53,647 shares during the last quarter. Rhumbline Advisers increased its holdings in Unity Software by 0.7% in the 1st quarter. Rhumbline Advisers now owns 316,933 shares of the company’s stock valued at $6,209,000 after purchasing an additional 2,081 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Unity Software in the 1st quarter valued at $225,000. Pallas Capital Advisors LLC acquired a new stake in Unity Software in the 1st quarter valued at $319,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Unity Software in the 1st quarter valued at $2,215,000. 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.