Unity Software (NYSE:U) Upgraded by Citigroup to “Buy” Rating

Citigroup upgraded shares of Unity Software (NYSE:U) from a neutral rating to a buy rating in a research note published on Tuesday, MarketBeat reports. They currently have $30.00 price target on the stock.

A number of other analysts have also weighed in on U. UBS Group upped their price objective on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Friday, February 21st. Benchmark raised shares of Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a report on Friday, February 21st. Finally, Jefferies Financial Group upped their target price on Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.61.

Unity Software Price Performance

Unity Software stock opened at $20.99 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of -12.49 and a beta of 2.27. The firm has a 50-day moving average of $22.90 and a two-hundred day moving average of $21.88. Unity Software has a 1 year low of $13.90 and a 1 year high of $30.88.

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

Insider Activity at Unity Software

In other news, CAO Mark Barrysmith sold 1,362 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $21.91, for a total value of $29,841.42. Following the completion of the transaction, the chief accounting officer now directly owns 452,276 shares in the company, valued at $9,909,367.16. This trade represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total value of $6,255,000.00. Following the completion of the transaction, the director now owns 3,648,146 shares of the company’s stock, valued at approximately $91,276,612.92. The trade was a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 864,537 shares of company stock valued at $20,839,722 in the last three months. 6.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Unity Software

Institutional investors have recently bought and sold shares of the business. Anderson Financial Strategies LLC purchased a new position in shares of Unity Software during the 4th quarter valued at 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. raised its position 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 shares of Unity Software during the 3rd quarter valued at approximately $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Unity Software in the 4th quarter valued at $36,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.