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

Unity Software (NYSE:U) had its target price upped by Morgan Stanley from $40.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 21.38% from the company’s current price.

Several other analysts also recently weighed in on U. Needham & Company LLC boosted their target price on shares of Unity Software from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. BTIG Research downgraded shares of Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a research report on Wednesday, July 23rd. Jefferies Financial Group boosted their target price on shares of Unity Software from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on shares of Unity Software in a research note on Wednesday, October 15th. They set a “neutral” rating and a $38.00 price objective for the company. Finally, Bank of America began coverage on shares of Unity Software in a research note on Thursday, June 26th. They set an “underperform” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.81.

Unity Software Stock Up 2.8%

NYSE:U opened at $36.25 on Monday. The company has a market cap of $15.32 billion, a PE ratio of -34.20 and a beta of 2.32. Unity Software has a twelve month low of $15.33 and a twelve month high of $46.94. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $40.19 and its two-hundred day moving average is $30.42.

Unity Software (NYSE:U) last released its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The company 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%.The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.32) EPS. Analysts anticipate that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 2,734 shares of Unity Software stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $37.85, for a total transaction of $103,481.90. Following the completion of the sale, the senior vice president directly owned 175,510 shares in the company, valued at approximately $6,643,053.50. The trade was a 1.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Mark Barrysmith sold 802 shares of Unity Software stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $36.22, for a total transaction of $29,048.44. Following the sale, the chief accounting officer owned 452,986 shares of the company’s stock, valued at approximately $16,407,152.92. The trade was a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,236,951 shares of company stock worth $95,081,659. Corporate insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several large investors have recently made changes to their positions in U. GAMMA Investing LLC lifted its stake in shares of Unity Software by 72.5% in the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock valued at $55,000 after purchasing an additional 1,186 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Unity Software in the 1st quarter valued at $2,215,000. Janney Montgomery Scott LLC lifted its stake in shares of Unity Software by 116.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company’s stock valued at $570,000 after purchasing an additional 15,633 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Unity Software in the 1st quarter valued at $433,000. Finally, Amalgamated Bank lifted its stake in shares of Unity Software by 3.0% in the 1st quarter. Amalgamated Bank now owns 18,132 shares of the company’s stock valued at $355,000 after purchasing an additional 525 shares during the period. 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.