Unity Software (NYSE:U) Raised to “Buy” at HSBC

Unity Software (NYSE:U) was upgraded by stock analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm presently has a $34.00 target price on the stock. HSBC’s price objective would suggest a potential upside of 20.08% from the company’s previous close.

Several other analysts have also issued reports on the company. Jefferies Financial Group upped their price objective on Unity Software from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Benchmark raised Unity Software from a “sell” rating to a “hold” rating in a report on Thursday. Morgan Stanley raised 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. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Finally, Needham & Company LLC lifted their target price on shares of Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Unity Software currently has an average rating of “Hold” and a consensus price target of $25.96.

Unity Software Trading Up 1.1 %

Shares of U opened at $28.31 on Friday. The firm has a market capitalization of $11.41 billion, a PE ratio of -16.85 and a beta of 2.32. 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 has a 12-month low of $13.90 and a 12-month high of $33.43. The stock’s fifty day simple moving average is $22.53 and its 200-day simple moving average is $21.13.

Unity Software (NYSE:U) last issued its quarterly earnings data 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. The business had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. As a group, research analysts predict that Unity Software will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Tomer Bar-Zeev sold 83,333 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $25.44, for a total value of $2,119,991.52. Following the sale, the director now owns 3,398,146 shares in the company, valued at $86,448,834.24. This represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Felix The sold 11,719 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.39, for a total transaction of $285,826.41. Following the completion of the transaction, the senior vice president now owns 411,960 shares of the company’s stock, valued at approximately $10,047,704.40. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 762,597 shares of company stock worth $18,732,374 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of U. Ariose Capital Management Ltd purchased a new stake in shares of Unity Software during the fourth quarter worth $2,299,000. Charles Schwab Investment Management Inc. lifted its position in Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after acquiring an additional 944,709 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Unity Software by 2,665.4% in the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after buying an additional 330,088 shares during the last quarter. LMR Partners LLP purchased a new position in Unity Software during the 3rd quarter worth $611,000. Finally, Edgestream Partners L.P. raised its stake in Unity Software by 637.9% during the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after acquiring an additional 88,955 shares during the last quarter. 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.