Unity Software (NYSE:U) Price Target Raised to $55.00

Unity Software (NYSE:U) had its price objective lifted by Wedbush from $50.00 to $55.00 in a report published on Wednesday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. BTIG Research boosted their price target on shares of Unity Software from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, October 9th. Piper Sandler restated an “overweight” rating on shares of Unity Software in a research report on Monday, October 5th. Jefferies Financial Group raised their price objective on Unity Software from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. Bank of America raised Unity Software from a “neutral” rating to a “buy” rating and raised their price objective for the company from $30.00 to $50.00 in a research note on Friday, August 7th. Finally, Citigroup lifted their price objective on Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.01.

Unity Software Trading Down 7.0%

U stock opened at $40.31 on Wednesday. The company has a market capitalization of $17.74 billion, a PE ratio of -29.64, a price-to-earnings-growth ratio of 1.90 and a beta of 2.11. Unity Software has a one year low of $16.78 and a one year high of $52.15. The company’s 50 day moving average price is $43.58 and its two-hundred day moving average price is $33.41. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The firm had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. During the same period in the previous year, the business posted $0.18 EPS. The business’s quarterly revenue was up 24.0% on a year-over-year basis. As a group, analysts predict that Unity Software will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Alexander Blum sold 43,556 shares of Unity Software stock in a transaction on Friday, August 28th. The shares were sold at an average price of $43.51, for a total value of $1,895,121.56. Following the transaction, the chief operating officer directly owned 661,855 shares of the company’s stock, valued at $28,797,311.05. The trade was a 6.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Rebecca Boyden sold 1,032 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total transaction of $46,770.24. Following the sale, the senior vice president owned 308,413 shares of the company’s stock, valued at $13,977,277.16. This represents a 0.33% 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 three months, insiders sold 109,547 shares of company stock worth $4,884,202. 0.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

A number of large investors have recently added to or reduced their stakes in U. V Square Quantitative Management LLC raised its stake in shares of Unity Software by 14.6% during the third quarter. V Square Quantitative Management LLC now owns 2,329 shares of the company’s stock valued at $95,000 after acquiring an additional 297 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Unity Software by 56.1% during the third quarter. Fortitude Family Office LLC now owns 840 shares of the company’s stock worth $34,000 after purchasing an additional 302 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of Unity Software by 15.0% in the third quarter. Elevation Wealth Partners LLC now owns 2,628 shares of the company’s stock worth $108,000 after purchasing an additional 342 shares during the last quarter. KBC Group NV grew its stake in shares of Unity Software by 1.0% in the first quarter. KBC Group NV now owns 52,505 shares of the company’s stock worth $1,152,000 after purchasing an additional 545 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of 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 purchasing an additional 558 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

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.