#6 - Unity Software (NYSE:U)
Like Nvidia, Unity Software (NYSE:U) may not be a pure play on the metaverse. However, the company’s software is already used in over 70% of the top 1,000 games. And chances are the games you play on your mobile device, PC or console was made with Unity. Many of these games rely on building 2D and 3D gaming worlds. Therefore, it’s not that big of a leap to see the company playing a significant role in the metaverse.
Unity Software has been hit hard by the tech sell-off. It’s down 21% even after the stock rallied 17% after its strong earnings report. But this is likely to be just a matter of analysts overthinking the narrative. Unity has a nice track record of beating earnings estimates even though the company is not yet profitable. However, on the last earnings call, the company it expects to achieve break even status (non-GAAP) at some point in 2023.
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.
Read More - Current Price
- $23.53
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 8 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $23.35 (0.8% Downside)
