Brokerages Set Unity Software Inc. (NYSE:U) Price Target at $23.96

Shares of Unity Software Inc. (NYSE:U - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $23.96.

Several research firms have issued reports on U. HSBC upgraded Unity Software from a "hold" rating to a "buy" rating and set a $34.00 target price on the stock in a research note on Friday, February 21st. Wedbush reissued an "outperform" rating and set a $27.00 target price on shares of Unity Software in a research report on Thursday, February 13th. Macquarie assumed coverage on shares of Unity Software in a report on Monday, March 10th. They issued a "neutral" rating and a $24.00 price target on the stock. JMP Securities reiterated a "market perform" rating on shares of Unity Software in a report on Monday, February 3rd. Finally, Needham & Company LLC raised their price objective on Unity Software from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, February 21st.

Unity Software Trading Up 0.4 %

U stock traded up $0.08 during mid-day trading on Friday, reaching $19.31. The company had a trading volume of 6,102,716 shares, compared to its average volume of 10,903,830. The firm has a 50 day moving average of $21.53 and a 200 day moving average of $22.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. Unity Software has a 12 month low of $13.90 and a 12 month high of $30.88. The company has a market capitalization of $7.91 billion, a PE ratio of -11.49 and a beta of 2.31.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The business had revenue of $457.10 million for the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. On average, equities analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In other Unity Software news, Director David Helgason sold 38,924 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total value of $1,047,834.08. Following the sale, the director now directly owns 7,828,494 shares of the company's stock, valued at approximately $210,743,058.48. This trade represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark Barrysmith sold 1,395 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the transaction, the chief accounting officer now owns 450,881 shares of the company's stock, valued at $9,775,100.08. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 782,231 shares of company stock valued at $17,933,528 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anderson Financial Strategies LLC purchased a new position in Unity Software in the fourth quarter worth approximately $28,000. R Squared Ltd purchased a new stake in Unity Software during the fourth quarter worth about $30,000. Principal Securities Inc. lifted its position in shares of Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock worth $32,000 after purchasing an additional 477 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Unity Software in the fourth quarter valued at approximately $36,000. Finally, GAMMA Investing LLC grew its holdings in shares of Unity Software by 33.6% in the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock valued at $37,000 after purchasing an additional 411 shares in the last quarter. 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.