Unity Software (NYSE:U) Stock Price Expected to Rise, Barclays Analyst Says

Unity Software (NYSE:U) had its price objective hoisted by investment analysts at Barclays from $18.00 to $26.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 8.17% from the company’s previous close.

U has been the subject of several other reports. UBS Group upped their target price on Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Benchmark upgraded shares of Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC upped their price target on shares of Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Friday. Finally, Wedbush reiterated an “outperform” rating and set a $27.00 price objective on shares of Unity Software in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.96.

Unity Software Stock Up 1.1 %

Unity Software stock opened at $28.31 on Friday. Unity Software has a 52 week low of $13.90 and a 52 week high of $33.43. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of -16.85 and a beta of 2.32. The business’s 50-day moving average price is $22.53 and its 200 day moving average price is $21.13. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last posted its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share 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 during the quarter, compared to analyst estimates of $433.47 million. As a group, sell-side analysts anticipate that Unity Software will post -1.25 earnings per share for the current year.

Insider Transactions at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 1,362 shares of Unity Software stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total value of $29,841.42. Following the completion of the sale, the chief accounting officer now directly owns 452,276 shares of the company’s stock, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.02, for a total value of $6,255,000.00. Following the completion of the sale, the director now directly owns 3,648,146 shares of the company’s stock, valued at approximately $91,276,612.92. This represents a 6.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 762,597 shares of company stock valued at $18,732,374 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Anderson Financial Strategies LLC acquired a new position in Unity Software in the fourth quarter worth about $28,000. R Squared Ltd acquired a new position in shares of Unity Software in the 4th quarter worth approximately $30,000. Principal Securities Inc. lifted 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 worth $32,000 after purchasing an additional 477 shares during the last quarter. Planning Capital Management Corp acquired a new position in Unity Software in the third quarter worth $34,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Unity Software during the fourth quarter valued at $36,000. Institutional investors and hedge funds 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.