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

Unity Software (NYSE:U) had its target price raised by investment analysts at Wedbush from $32.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 23.89% from the company’s current price.

A number of other research analysts have also recently commented on U. Citigroup reduced their target price on Unity Software from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Needham & Company LLC lifted their price target on Unity Software from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. BTIG Research upped their price objective on Unity Software from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen lowered Unity Software from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Zacks Research raised Unity Software from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.99.

Unity Software Price Performance

Shares of NYSE:U opened at $29.06 on Wednesday. The company’s fifty day moving average price is $28.58 and its 200-day moving average price is $27.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of -18.51, a PEG ratio of 3.46 and a beta of 2.05. Unity Software has a one year low of $16.78 and a one year high of $52.15.

Insider Buying and Selling

In other news, COO Alexander Blum sold 19,009 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $516,664.62. Following the transaction, the chief operating officer directly owned 730,069 shares of the company’s stock, valued at approximately $19,843,275.42. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of Unity Software stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total value of $25,894.40. Following the completion of the transaction, the senior vice president owned 309,445 shares in the company, valued at approximately $8,416,904. This represents a 0.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 198,321 shares of company stock worth $5,390,783 over the last 90 days. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 worth $15,930,000 after purchasing an additional 45,481 shares during the last quarter. Focus Partners Wealth bought a new stake in Unity Software during the 1st quarter valued at $260,000. Northwestern Mutual Wealth Management Co. raised its holdings in Unity Software by 28.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock valued at $134,000 after buying an additional 1,241 shares during the last quarter. California Public Employees Retirement System boosted its position in Unity Software by 11.3% during the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock valued at $12,603,000 after buying an additional 53,015 shares during the period. Finally, Sei Investments Co. grew its holdings in Unity Software by 1,135.6% in the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock worth $5,438,000 after acquiring an additional 206,529 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Key Headlines Impacting Unity Software

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

• Positive Sentiment: Wedbush raised its price target on Unity and kept an outperform rating, signaling Wall Street sees meaningful upside as the company works through its business transition. Unity gets a Wall Street vote of confidence ahead of Q2 earnings
• Positive Sentiment: Several reports highlighted that analysts’ average price target implies roughly 27% upside for Unity Software, which can support the stock by reinforcing expectations for a rebound. Wall Street Analysts See a 27.16% Upside in Unity Software (U): Can the Stock Really Move This High?
• Positive Sentiment: Unity was included in multiple pieces on software names poised to benefit from AI adoption, suggesting investors are viewing Unity as a potential beneficiary of growing demand for AI-enabled tools and enterprise software. 4 Software Stocks Poised to Benefit From Expanding AI Adoption
• Positive Sentiment: Coverage also said Unity is benefiting from demand for AI-infused software and cybersecurity-related applications, which may help investor confidence in future growth. 3 Internet Software Stocks to Buy From a Challenging Industry
• Positive Sentiment: Unity’s upcoming Unity 7 platform was described as an AI collaboration push that could broaden its role in the game development workflow, reinforcing the company’s long-term product narrative. Unity 7’s most surprising advance isn’t a feature upgrade

Unity Software Company Profile

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.