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

Unity Software (NYSE:U) had its target price lifted by analysts at Morgan Stanley from $26.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 13.02% from the company’s previous close.

A number of other research analysts have also weighed in on U. Wedbush reissued an “outperform” rating and issued a $27.00 price objective on shares of Unity Software in a report on Thursday, February 13th. Needham & Company LLC raised 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. Wells Fargo & Company upped their price objective on shares of Unity Software from $20.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday. Macquarie raised their target price on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a report on Friday, November 8th. Finally, Benchmark upgraded shares of Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday. One 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 given a strong buy rating to the stock. According to data from MarketBeat, Unity Software currently has a consensus rating of “Hold” and an average price target of $25.96.

Unity Software Stock Performance

Shares of Unity Software stock opened at $28.31 on Friday. The company has a market capitalization of $11.41 billion, a PE ratio of -16.85 and a beta of 2.32. The company has a 50-day simple moving average of $22.53 and a two-hundred day simple moving average of $21.13. Unity Software has a one year low of $13.90 and a one year high of $33.43. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

Insider Transactions at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 83,333 shares of Unity Software stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,398,146 shares of the company’s stock, valued at approximately $86,448,834.24. The trade was a 2.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Felix The sold 20,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $27.43, for a total value of $548,600.00. Following the completion of the transaction, the senior vice president now owns 391,960 shares of the company’s stock, valued at $10,751,462.80. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 762,597 shares of company stock valued at $18,732,374 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Unity Software

A number of hedge funds have recently made changes to their positions in U. Anderson Financial Strategies LLC acquired a new stake in shares of Unity Software in the fourth quarter valued at about $28,000. R Squared Ltd purchased a new stake in shares of Unity Software during the fourth quarter valued at approximately $30,000. Principal Securities Inc. lifted its position in shares of 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 in the last quarter. Planning Capital Management Corp purchased a new position in shares of Unity Software in the third quarter valued at $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Unity Software during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.