Unity Software (NYSE:U) Upgraded to “Buy” at Wall Street Zen

Unity Software (NYSE:U) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other analysts have also issued reports about the stock. Morgan Stanley raised their price target on shares of Unity Software from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Barclays lifted their target price on Unity Software from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. The Goldman Sachs Group initiated coverage on Unity Software in a report on Wednesday, October 15th. They issued a “neutral” rating and a $38.00 price target for the company. BTIG Research upgraded Unity Software from a “sell” rating to a “neutral” rating in a research report on Friday, October 31st. Finally, Macquarie raised Unity Software from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $33.00 to $50.00 in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.49.

Unity Software Stock Performance

Shares of NYSE U opened at $45.79 on Friday. Unity Software has a 12 month low of $15.33 and a 12 month high of $46.94. The company has a market cap of $19.60 billion, a P/E ratio of -43.61 and a beta of 2.04. The business’s 50 day moving average is $38.99 and its two-hundred day moving average is $34.87. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

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. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The company had revenue of $470.62 million during the quarter, compared to analysts’ expectations of $452.87 million. During the same period in the prior year, the business earned ($0.31) earnings per share. Unity Software’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $41.93, for a total value of $10,482,500.00. Following the completion of the transaction, the director directly owned 1,048,146 shares of the company’s stock, valued at approximately $43,948,761.78. This represents a 19.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $566,243.92. Following the transaction, the chief accounting officer owned 408,886 shares of the company’s stock, valued at $16,919,702.68. This trade represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,506,658 shares of company stock worth $107,478,975. Insiders own 3.61% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Institutional investors and hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new position in shares of Unity Software in the 2nd quarter worth approximately $205,000. Forum Financial Management LP acquired a new position in Unity Software in the second quarter worth $256,000. Austin Wealth Management LLC bought a new stake in shares of Unity Software during the second quarter worth $208,000. PNC Financial Services Group Inc. increased its stake in shares of Unity Software by 148.2% in the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock valued at $537,000 after buying an additional 13,245 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Unity Software in the second quarter valued at $232,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Company Profile

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.