Needham & Company LLC Forecasts Strong Price Appreciation for Unity Software (NYSE:U) Stock

Unity Software (NYSE:U) had its price objective lifted by analysts at Needham & Company LLC from $26.00 to $33.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 16.55% from the company’s previous close.

Several other analysts also recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Unity Software in a report on Monday, October 28th. They set an “equal weight” rating and a $20.00 target price for the company. Jefferies Financial Group lifted their price objective on shares of Unity Software from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Macquarie lifted their price objective on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research note on Friday, November 8th. Morgan Stanley boosted their target price 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. Finally, Wedbush restated an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.96.

Unity Software Trading Up 1.1 %

U opened at $28.31 on Friday. The firm’s fifty day moving average is $22.53 and its two-hundred day moving average is $21.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $11.41 billion, a PE ratio of -16.85 and a beta of 2.32. Unity Software has a twelve month low of $13.90 and a twelve month high of $33.43.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The firm had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Equities research analysts anticipate that Unity Software will post -1.25 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Felix The sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were 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 trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tomer Bar-Zeev sold 210,000 shares of Unity Software stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.23, for a total transaction of $5,508,300.00. Following the completion of the sale, the director now directly owns 967,650 shares in the company, valued at approximately $25,381,459.50. This represents a 17.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 762,597 shares of company stock worth $18,732,374. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Unity Software

Several hedge funds have recently added to or reduced their stakes in U. Anderson Financial Strategies LLC purchased a new position in shares of Unity Software in the fourth quarter worth about $28,000. R Squared Ltd purchased a new position in Unity Software during the fourth quarter valued at approximately $30,000. Principal Securities Inc. grew its stake in Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after acquiring an additional 477 shares in the last quarter. Planning Capital Management Corp purchased a new position in Unity Software during the third quarter valued at approximately $34,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Unity Software during the fourth quarter valued at approximately $36,000. Institutional investors own 73.46% of the company’s stock.

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.