Unity Software (NYSE:U) PT Lowered to $71.00

Unity Software (NYSE:UGet Rating) had its price objective lowered by investment analysts at Citigroup from $125.00 to $71.00 in a research note issued to investors on Friday, The Fly reports. Citigroup’s price target indicates a potential upside of 71.91% from the stock’s current price.

A number of other equities analysts also recently issued reports on U. Stifel Nicolaus dropped their price target on Unity Software from $150.00 to $100.00 in a research report on Wednesday, May 11th. The Goldman Sachs Group reduced their target price on Unity Software from $154.00 to $137.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Jefferies Financial Group assumed coverage on Unity Software in a research report on Tuesday, March 8th. They issued a “hold” rating and a $100.00 target price on the stock. Piper Sandler cut their price objective on Unity Software from $145.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, May 11th. Finally, Daiwa Capital Markets downgraded Unity Software from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $34.00 in a report on Wednesday, May 11th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Unity Software presently has a consensus rating of “Buy” and a consensus price target of $114.77.

Unity Software stock opened at $41.30 on Friday. The business has a 50-day simple moving average of $62.24 and a two-hundred day simple moving average of $98.84. The company has a market cap of $12.23 billion, a P/E ratio of -19.67 and a beta of 2.74. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 0.72. Unity Software has a 52-week low of $29.09 and a 52-week high of $210.00.

Unity Software (NYSE:UGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.08) earnings per share 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 return on equity of 20.50% and a negative net margin of 50.40%. The firm’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.38) EPS. Research analysts anticipate that Unity Software will post -1.64 EPS for the current fiscal year.

In related news, CMO Carol W. Carpenter sold 8,186 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $38.19, for a total transaction of $312,623.34. Following the sale, the chief marketing officer now owns 221,194 shares of the company’s stock, valued at $8,447,398.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Luis Felipe Visoso sold 33,804 shares of the company’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $38.17, for a total value of $1,290,298.68. Following the completion of the transaction, the chief financial officer now directly owns 324,145 shares in the company, valued at approximately $12,372,614.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,214 shares of company stock valued at $2,507,966. Insiders own 19.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SC US Ttgp LTD. raised its stake in Unity Software by 5.5% during the 1st quarter. SC US Ttgp LTD. now owns 24,652,204 shares of the company’s stock valued at $2,445,745,000 after purchasing an additional 1,290,472 shares during the period. Vanguard Group Inc. raised its stake in Unity Software by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 17,279,116 shares of the company’s stock valued at $1,714,261,000 after purchasing an additional 2,531,507 shares during the period. Morgan Stanley raised its stake in Unity Software by 170.7% during the 2nd quarter. Morgan Stanley now owns 9,302,677 shares of the company’s stock valued at $1,021,713,000 after purchasing an additional 5,865,923 shares during the period. BlackRock Inc. raised its stake in Unity Software by 3.1% during the 1st quarter. BlackRock Inc. now owns 8,428,171 shares of the company’s stock valued at $836,158,000 after purchasing an additional 252,285 shares during the period. Finally, ARK Investment Management LLC raised its stake in Unity Software by 6.3% during the 1st quarter. ARK Investment Management LLC now owns 8,244,223 shares of the company’s stock valued at $817,909,000 after purchasing an additional 486,068 shares during the period. 75.48% of the stock is currently owned by institutional investors.

About Unity Software (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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