BTIG Research Forecasts Strong Price Appreciation for Unity Software (NYSE:U) Stock

Unity Software (NYSE:U) had its price target increased by investment analysts at BTIG Research from $51.00 to $53.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 15.65% from the company’s current price.

U has been the topic of several other research reports. Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a report on Sunday, October 4th. UBS Group reaffirmed an “outperform” rating on shares of Unity Software in a report on Friday, August 7th. Citizens Jmp increased their price objective on shares of Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Piper Sandler restated an “overweight” rating on shares of Unity Software in a research report on Monday. Finally, HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target on the stock in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and a consensus target price of $45.66.

Unity Software Trading Up 0.9%

NYSE U opened at $45.83 on Friday. Unity Software has a 12-month low of $16.78 and a 12-month high of $52.15. The company has a fifty day simple moving average of $42.66 and a two-hundred day simple moving average of $32.42. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The stock has a market cap of $20.17 billion, a P/E ratio of -33.70, a P/E/G ratio of 1.99 and a beta of 2.11.

Unity Software (NYSE:U) last released its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.39. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The firm had revenue of $546.47 million for the quarter, compared to the consensus estimate of $514.72 million. During the same period in the prior year, the firm earned $0.18 EPS. The firm’s revenue was up 24.0% on a year-over-year basis. On average, analysts forecast that Unity Software will post 0.55 earnings per share for the current year.

Insider Activity

In related news, SVP Rebecca Boyden sold 1,032 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the transaction, the senior vice president directly owned 308,413 shares in the company, valued at $13,977,277.16. The trade was a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 26,017 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $1,178,830.27. Following the sale, the chief financial officer directly owned 678,343 shares in the company, valued at $30,735,721.33. This trade represents a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 109,547 shares of company stock valued at $4,884,202. 0.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Unity Software

Hedge funds have recently modified their holdings of the company. Elevation Wealth Partners LLC increased its holdings in shares of Unity Software by 15.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 2,628 shares of the company’s stock worth $108,000 after buying an additional 342 shares during the last quarter. KBC Group NV lifted its holdings in Unity Software by 1.0% in the first quarter. KBC Group NV now owns 52,505 shares of the company’s stock valued at $1,152,000 after acquiring an additional 545 shares during the last quarter. Versant Capital Management Inc grew its position in Unity Software by 37.6% in the second quarter. Versant Capital Management Inc now owns 2,041 shares of the company’s stock worth $58,000 after acquiring an additional 558 shares during the period. Greenleaf Trust increased its stake in Unity Software by 4.6% during the second quarter. Greenleaf Trust now owns 15,837 shares of the company’s stock worth $453,000 after acquiring an additional 691 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Unity Software by 21.7% in the second quarter. IFP Advisors Inc now owns 3,997 shares of the company’s stock valued at $114,000 after purchasing an additional 712 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Key Unity Software News

Here are the key news stories impacting Unity Software this week:

• Positive Sentiment: Raymond James upgraded Unity to “outperform” from “market perform” and set a $54 price target. The firm cited Unity’s partnership with Google and believes the stock can continue rallying, providing a catalyst for the recent advance. Unity Software rises on back of Raymond James upgrade
• Positive Sentiment: Jefferies also raised its price target to $54 and maintained a “buy” rating. The additional analyst support reinforces the view that Unity’s improving growth outlook and artificial-intelligence strategy could justify further upside. Why Is Unity Software Stock Gaining Thursday?
• Positive Sentiment: Google and Unity are developing an AI-powered game-creation platform. The planned Playground and Unity Spark products would let users create playable games with text prompts, potentially expanding Unity’s creator base and funneling new users toward its professional engine. Google’s infrastructure and distribution could also help Unity pursue the opportunity without bearing all AI-development costs. Google, Unity launch platform to create video games from prompts
• Neutral Sentiment: Investor enthusiasm is tempered by valuation and profitability concerns. Unity remains loss-making despite recent earnings and revenue beats, while the AI platform’s commercial impact and launch timing are still unproven. Zacks Research downgraded the stock from “strong buy” to “hold,” highlighting the mixed analyst outlook. Unity Stock Still Looks Undervalued

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and entertainment.

The company’s core offering is the Unity development platform, which includes tools for graphics, physics, animation, audio, scripting and cross-platform deployment.