$294.83 Million in Sales Expected for Unity Software Inc. (NYSE:U) This Quarter

Brokerages predict that Unity Software Inc. (NYSE:UGet Rating) will announce sales of $294.83 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Unity Software’s earnings, with the lowest sales estimate coming in at $292.30 million and the highest estimate coming in at $300.10 million. Unity Software reported sales of $273.56 million during the same quarter last year, which indicates a positive year over year growth rate of 7.8%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Unity Software will report full year sales of $1.38 billion for the current financial year, with estimates ranging from $1.30 billion to $1.43 billion. For the next year, analysts forecast that the firm will post sales of $1.78 billion, with estimates ranging from $1.58 billion to $1.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Unity Software.

Unity Software (NYSE:UGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $320.13 million during the quarter, compared to the consensus estimate of $321.17 million. Unity Software had a negative net margin of 50.40% and a negative return on equity of 20.50%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) earnings per share.

Several research firms have recently weighed in on U. Jefferies Financial Group began coverage on shares of Unity Software in a research note on Tuesday, March 8th. They set a “hold” rating and a $100.00 price target for the company. Piper Sandler decreased their price target on shares of Unity Software from $145.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, May 11th. Daiwa Capital Markets downgraded shares of Unity Software from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $110.00 to $34.00 in a research note on Wednesday, May 11th. Credit Suisse Group decreased their price target on shares of Unity Software from $160.00 to $137.00 in a research note on Wednesday, May 11th. Finally, Wedbush decreased their price target on shares of Unity Software from $125.00 to $70.00 in a research note on Wednesday, May 11th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $118.92.

In other news, SVP Marc Whitten sold 10,775 shares of the business’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $105.23, for a total transaction of $1,133,853.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Helgason sold 83,333 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $101.31, for a total transaction of $8,442,466.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,824 shares of company stock valued at $10,026,399. Insiders own 19.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Toroso Investments LLC grew its stake in shares of Unity Software by 162.3% in the 1st quarter. Toroso Investments LLC now owns 13,257 shares of the company’s stock valued at $1,315,000 after buying an additional 8,203 shares during the period. Capital World Investors lifted its holdings in shares of Unity Software by 40.3% in the 1st quarter. Capital World Investors now owns 1,666,605 shares of the company’s stock worth $165,344,000 after acquiring an additional 478,605 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Unity Software by 10.6% in the 1st quarter. Gabelli Funds LLC now owns 5,530 shares of the company’s stock worth $549,000 after acquiring an additional 530 shares during the last quarter. Nomura Holdings Inc. lifted its holdings in shares of Unity Software by 329.9% in the 1st quarter. Nomura Holdings Inc. now owns 19,095 shares of the company’s stock worth $1,889,000 after acquiring an additional 27,399 shares during the last quarter. Finally, united american securities inc. d b a uas asset management acquired a new position in shares of Unity Software in the 1st quarter worth approximately $397,000. 75.48% of the stock is owned by institutional investors.

Shares of NYSE U opened at $41.32 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.53 and a quick ratio of 3.53. The company has a market cap of $12.23 billion, a P/E ratio of -19.68 and a beta of 2.64. Unity Software has a 1 year low of $29.09 and a 1 year high of $210.00. The firm has a 50-day simple moving average of $77.54 and a two-hundred day simple moving average of $111.65.

Unity Software Company Profile (Get Rating)

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.

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