Unity Software (NYSE:U) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Unity Software (NYSE:U) had its target price lifted by investment analysts at Wells Fargo & Company from $51.00 to $54.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 20.92% from the company’s previous close.

Several other equities analysts have also weighed in on U. Wedbush raised their target price on Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. HSBC lowered Unity Software from a “buy” rating to a “hold” rating and increased their price objective for the company from $37.50 to $40.80 in a report on Tuesday, September 30th. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unity Software in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their price target on shares of Unity Software from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.32.

Unity Software Price Performance

NYSE U opened at $44.66 on Thursday. 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 has a market capitalization of $19.11 billion, a PE ratio of -42.53, a price-to-earnings-growth ratio of 47.46 and a beta of 2.04. Unity Software has a 12-month low of $15.33 and a 12-month high of $52.15. The company has a 50 day moving average price of $43.25 and a two-hundred day moving average price of $38.68.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The company had revenue of $470.62 million for the quarter, compared to analyst estimates of $452.87 million. During the same quarter in the prior year, the business posted ($0.31) EPS. Unity Software’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, COO Alexander Blum sold 1,988 shares of the stock in a transaction on Friday, November 28th. The shares were sold at an average price of $42.47, for a total value of $84,430.36. Following the completion of the sale, the chief operating officer directly owned 561,130 shares of the company’s stock, valued at $23,831,191.10. This represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jarrod Yahes sold 27,742 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $42.79, for a total transaction of $1,187,080.18. Following the completion of the sale, the chief financial officer owned 546,129 shares in the company, valued at $23,368,859.91. This represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,651,471 shares of company stock valued at $75,307,029 in the last ninety days. Company insiders own 3.61% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of institutional investors have recently bought and sold shares of U. Vident Advisory LLC acquired a new position in shares of Unity Software in the 1st quarter valued at $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Unity Software by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after acquiring an additional 45,481 shares during the period. Bayforest Capital Ltd raised its position in Unity Software by 175.5% in the first quarter. Bayforest Capital Ltd now owns 6,045 shares of the company’s stock worth $118,000 after purchasing an additional 3,851 shares in the last quarter. Focus Partners Wealth bought a new position in Unity Software during the first quarter worth about $260,000. Finally, Rhumbline Advisers lifted its stake in Unity Software by 0.7% during the first quarter. Rhumbline Advisers now owns 316,933 shares of the company’s stock worth $6,209,000 after purchasing an additional 2,081 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.