Barclays Boosts Unity Software (NYSE:U) Price Target to $18.00

Unity Software (NYSE:U) had its price target boosted by analysts at Barclays from $16.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 12.20% from the company’s previous close.

Other research analysts have also issued research reports about the company. Benchmark raised their price objective on Unity Software from $10.00 to $15.00 and gave the company a “sell” rating in a research report on Friday. Piper Sandler reaffirmed a “neutral” rating and set a $17.00 price objective (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Wedbush raised their target price on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, September 16th. The Goldman Sachs Group decreased their price target on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Needham & Company LLC lifted their price objective on shares of Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.35.

Unity Software Stock Performance

U opened at $20.50 on Friday. The company has a 50 day simple moving average of $20.42 and a two-hundred day simple moving average of $18.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a market cap of $8.14 billion, a P/E ratio of -10.00 and a beta of 2.29. Unity Software has a 1-year low of $13.90 and a 1-year high of $43.54.

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

Insider Buying and Selling

In other news, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the sale, the senior vice president now directly owns 423,679 shares in the company, valued at approximately $7,579,617.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Felix The sold 30,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the transaction, the senior vice president now directly owns 423,679 shares in the company, valued at $7,579,617.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Helgason sold 250,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the sale, the director now owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 281,600 shares of company stock worth $5,714,000 in the last three months. 6.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Unity Software

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors raised its position in shares of Unity Software by 426.1% in the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock worth $210,193,000 after acquiring an additional 6,376,034 shares during the period. Capital Research Global Investors boosted its holdings in Unity Software by 18.7% in the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock worth $227,603,000 after buying an additional 1,342,787 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Unity Software by 35.0% in the second quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company’s stock valued at $31,805,000 after acquiring an additional 507,274 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Unity Software by 40.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock worth $23,929,000 after purchasing an additional 424,806 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Unity Software by 161.3% in the second quarter. Canada Pension Plan Investment Board now owns 579,179 shares of the company’s stock valued at $9,417,000 after buying an additional 357,500 shares during 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.