Wedbush Increases Unity Software (NYSE:U) Price Target to $27.00

Unity Software (NYSE:U) had its price objective raised by Wedbush from $21.00 to $27.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on U. Morgan Stanley raised Unity Software from an equal weight rating to an overweight rating and set a $22.00 target price for the company in a research note on Tuesday, September 3rd. Stifel Nicolaus boosted their target price on shares of Unity Software from $20.00 to $25.00 and gave the company a buy rating in a report on Friday, September 13th. JMP Securities restated a market perform rating on shares of Unity Software in a report on Friday, September 13th. Needham & Company LLC reduced their price target on shares of Unity Software from $31.00 to $23.00 and set a buy rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler reiterated a neutral rating and issued a $17.00 price objective (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $27.46.

Unity Software Stock Down 1.9 %

Shares of U opened at $20.23 on Monday. The stock has a 50 day moving average price of $16.72 and a 200 day moving average price of $20.14. Unity Software has a one year low of $13.90 and a one year high of $43.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of -9.03 and a beta of 2.25.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.12. The company had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. Unity Software’s revenue was down 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.26) EPS. Equities research analysts forecast that Unity Software will post -1.86 earnings per share for the current fiscal year.

Insider Activity

In other Unity Software news, SVP Felix The sold 30,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the transaction, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Unity Software news, SVP Felix The sold 30,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the sale, the senior vice president now owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 285,472 shares of company stock valued at $5,778,479. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Unity Software

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tradewinds Capital Management LLC lifted its stake in Unity Software by 245.6% in the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock valued at $26,000 after buying an additional 700 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Unity Software by 2,429.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock worth $28,000 after acquiring an additional 996 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Unity Software by 163.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after acquiring an additional 1,389 shares during the period. Principal Securities Inc. purchased a new stake in Unity Software in the 4th quarter valued at $37,000. Finally, Tidemark LLC acquired a new stake in Unity Software during the 4th quarter worth $39,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.