Arete Upgrades Unity Software (NYSE:U) to “Buy”

Unity Software (NYSE:U) was upgraded by investment analysts at Arete from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat.com reports. The brokerage presently has a $48.00 target price on the stock. Arete’s price target suggests a potential upside of 8.04% from the company’s previous close.

A number of other brokerages also recently weighed in on U. BTIG Research raised shares of Unity Software from a “sell” rating to a “neutral” rating in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Unity Software in a research note on Wednesday, October 22nd. They issued a “hold” rating and a $39.00 target price for the company. Macquarie upgraded Unity Software from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $33.00 to $50.00 in a research note on Friday, November 7th. Zacks Research cut Unity Software from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Unity Software has an average rating of “Hold” and a consensus price target of $39.99.

Unity Software Stock Performance

U opened at $44.43 on Monday. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $38.89 and its two-hundred day moving average price is $34.57. The firm has a market capitalization of $19.01 billion, a P/E ratio of -42.31 and a beta of 2.04. Unity Software has a 12-month low of $15.33 and a 12-month high of $46.94.

Unity Software (NYSE:U) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $470.62 million during the quarter, compared to analysts’ expectations of $452.87 million. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.Unity Software’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.31) earnings per share. On average, equities analysts forecast that Unity Software will post -1.25 earnings per share for the current year.

Insider Buying and Selling at Unity Software

In other Unity Software news, COO Alexander Blum sold 1,988 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $42.47, for a total value of $84,430.36. Following the transaction, the chief operating officer directly owned 561,130 shares in the company, valued at $23,831,191.10. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark Barrysmith sold 13,684 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total transaction of $566,243.92. Following the sale, the chief accounting officer directly owned 408,886 shares of the company’s stock, valued at approximately $16,919,702.68. The trade was a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,506,658 shares of company stock worth $107,478,975 over the last ninety days. Company insiders own 3.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc acquired a new stake in shares of Unity Software during the 3rd quarter worth approximately $33,000. Swiss Life Asset Management Ltd bought a new position in Unity Software in the third quarter valued at approximately $577,000. Danske Bank A S acquired a new stake in Unity Software during the 3rd quarter worth $80,000. NewEdge Advisors LLC raised its position in shares of Unity Software by 800.0% during the 3rd quarter. NewEdge Advisors LLC now owns 3,987 shares of the company’s stock valued at $160,000 after acquiring an additional 3,544 shares during the last quarter. Finally, Synergy Financial Group LTD acquired a new position in shares of Unity Software in the 3rd quarter valued at $336,000. Institutional investors own 73.46% of the company’s stock.

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.