Unity Software (NYSE:U) Upgraded by Morgan Stanley to “Overweight”

Morgan Stanley upgraded shares of Unity Software (NYSE:U) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. Morgan Stanley currently has $22.00 price objective on the stock.

A number of other analysts also recently commented on U. Stifel Nicolaus dropped their target price on shares of Unity Software from $25.00 to $20.00 and set a buy rating on the stock in a report on Friday, August 9th. Wedbush dropped their target price on shares of Unity Software from $33.50 to $21.00 and set an outperform rating on the stock in a report on Friday, August 9th. Macquarie dropped their target price on shares of Unity Software from $14.00 to $12.00 and set an underperform rating on the stock in a report on Friday, August 9th. JMP Securities reiterated a market perform rating on shares of Unity Software in a report on Friday, May 10th. Finally, Barclays dropped their target price on shares of Unity Software from $28.00 to $27.00 and set an equal weight rating on the stock in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $26.46.

Unity Software Stock Performance

Unity Software stock opened at $15.86 on Tuesday. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of -7.08 and a beta of 2.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. The firm’s fifty day moving average price is $16.22 and its 200 day moving average price is $20.87.

Unity Software (NYSE:U) last released its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.12. The company had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The company’s revenue was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) EPS. On average, research analysts forecast that Unity Software will post -1.86 EPS for the current fiscal year.

Insider Activity at Unity Software

In other news, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 5,472 shares of company stock worth $90,871 in the last ninety days. 6.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unity Software

Hedge funds have recently added to or reduced their stakes in the stock. Capital Impact Advisors LLC acquired a new stake in shares of Unity Software during the 2nd quarter worth approximately $440,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock worth $36,000 after buying an additional 1,389 shares during the period. Creative Planning grew its position in shares of Unity Software by 111.7% during the 2nd quarter. Creative Planning now owns 135,195 shares of the company’s stock worth $2,198,000 after buying an additional 71,325 shares during the period. Susquehanna Fundamental Investments LLC grew its position in shares of Unity Software by 127.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 330,160 shares of the company’s stock worth $5,368,000 after buying an additional 184,922 shares during the period. Finally, Scientech Research LLC grew its position in shares of Unity Software by 615.3% during the 2nd quarter. Scientech Research LLC now owns 77,785 shares of the company’s stock worth $1,265,000 after buying an additional 66,911 shares during the period. Institutional investors 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.