Can Unity Software Inc (U) stock recover despite sales dropping?

In yesterday’s Wall Street session, Unity Software Inc (NYSE:U) shares traded at $25.81, down -6.62% from the previous session.

28 analysts cover Unity Software Inc (NYSE:U), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $56.00 and a low of $16.00, we find $44.15. Given the previous closing price of $27.64, this indicates a potential upside of 59.73 percent. U stock price is now -17.85% away from the 50-day moving average and -23.45% away from the 200-day moving average. The market capitalization of the company currently stands at $9.90B.

The stock has received a hold rating from 11 analysts and a buy rating from 14. Brokers who have rated the stock have averaged $42.44 as their price target over the next twelve months.

With the price target reduced from $48 to $30, Piper Sandler Downgraded its rating from Overweight to Neutral for Unity Software Inc (NYSE: U).

In other news, Carpenter Carol W., SVP & Chief Marketing Officer sold 2,000 shares of the company’s stock on Nov 01. The stock was sold for $50,580 at an average price of $25.29. Upon completion of the transaction, the SVP & Chief Marketing Officer now directly owns 370,833 shares in the company, valued at $9.57 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 30, Director Helgason David sold 643,365 shares of the business’s stock. A total of $16,193,439 was realized by selling the stock at an average price of $25.17. This leaves the insider owning 8,451,851 shares of the company worth $218.14 million. Insiders disposed of 8,471,713 shares of company stock worth roughly $218.65 million over the past 1 year. A total of 39.19% of the company’s stock is owned by insiders.

On Monday morning Unity Software Inc (NYSE: U) stock kicked off with the opening price of $28.37. During the past 12 months, Unity Software Inc has had a low of $21.22 and a high of $50.08. As of last week, the company has a debt-to-equity ratio of 0.83, a current ratio of 2.45, and a quick ratio of 2.45. The fifty day moving average price for U is $31.42 and a two-hundred day moving average price translates $33.72 for the stock.

The latest earnings results from Unity Software Inc (NYSE: U) was released for Jun, 2023. According to the Software – Application Company, earnings per share came in at $0.25, beating analysts’ expectations of $0.08 by 0.17. This compares to -$0.69 EPS in the same period last year. The net profit margin was -54.46% and return on equity was -34.38% for U. The company reported revenue of $533.48 million for the quarter, compared to $297.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 79.6 percent. For the current quarter, analysts expect U to generate $553.71M in revenue.

Unity Software Inc(U) Company Profile

Unity Software Inc. operates a platform that provides real-time 3D development tools and services. 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 serves enterprises, mid-market companies, and government and non-profit institutions; mid-sized, small, and independent businesses; and individuals across various industries. It offers its solutions directly through its online store, field sales operations, independent distributors, and resellers in North America, Denmark, China, Finland, the United Kingdom, Germany, Israel, Japan, Singapore, South Korea, Spain, and internationally. The company was founded in 2004 and is headquartered in San Francisco, California.

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