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

Unity Software (NYSE:U - Free Report) had its price target hoisted by UBS Group from $21.00 to $23.00 in a research report released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other research firms also recently commented on U. Barclays boosted their target price on shares of Unity Software from $16.00 to $18.00 and gave the stock an "equal weight" rating in a report on Friday, November 8th. Benchmark increased their price objective on shares of Unity Software from $10.00 to $15.00 and gave the company a "sell" rating in a research report on Friday, November 8th. Morgan Stanley increased their price objective on shares of Unity Software from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Needham & Company LLC increased their price objective on shares of Unity Software from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Macquarie increased their price objective on shares of Unity Software from $15.00 to $16.00 and gave the company an "underperform" rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Unity Software has a consensus rating of "Hold" and a consensus price target of $22.81.

Unity Software Price Performance

NYSE:U traded up $0.05 during trading hours on Wednesday, hitting $23.11. 7,569,662 shares of the stock traded hands, compared to its average volume of 10,473,664. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software has a 1 year low of $13.90 and a 1 year high of $35.56. The company has a market cap of $9.31 billion, a price-to-earnings ratio of -11.33 and a beta of 2.32. The stock has a 50 day moving average price of $23.21 and a 200 day moving average price of $20.21.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.08. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. The business had revenue of $446.52 million for the quarter, compared to the consensus estimate of $428.01 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Sell-side analysts forecast that Unity Software will post -1.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, CAO Mark Barrysmith sold 1,362 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction of $29,841.42. Following the completion of the transaction, the chief accounting officer now directly owns 452,276 shares of the company's stock, valued at approximately $9,909,367.16. This trade represents a 0.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Felix The sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $27.43, for a total transaction of $548,600.00. Following the transaction, the senior vice president now directly owns 391,960 shares of the company's stock, valued at $10,751,462.80. This represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 764,487 shares of company stock worth $17,521,180 in the last three months. Corporate insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Unity Software

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Unity Software by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,324,694 shares of the company's stock worth $37,806,000 after acquiring an additional 200,008 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Unity Software by 11.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,281 shares of the company's stock worth $263,000 after acquiring an additional 1,638 shares in the last quarter. Intech Investment Management LLC increased its holdings in Unity Software by 8.2% in the 2nd quarter. Intech Investment Management LLC now owns 13,270 shares of the company's stock worth $216,000 after acquiring an additional 1,010 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Unity Software by 161.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 579,179 shares of the company's stock worth $9,417,000 after acquiring an additional 357,500 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Unity Software by 29.1% in the 2nd quarter. Sei Investments Co. now owns 27,789 shares of the company's stock worth $452,000 after acquiring an additional 6,264 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.