Hsbc Global Res Upgrades Unity Software (NYSE:U) to Strong-Buy

Unity Software (NYSE:U) was upgraded by investment analysts at Hsbc Global Res to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

A number of other analysts have also commented on the company. Needham & Company LLC lifted their price target on Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Friday. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Friday. Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group lifted their price target on Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Friday. Finally, UBS Group lifted their price target on Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.96.

Unity Software Stock Up 1.1 %

U stock opened at $28.31 on Friday. Unity Software has a twelve month low of $13.90 and a twelve month high of $33.43. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $22.53 and its 200-day moving average is $21.08. The firm has a market capitalization of $11.41 billion, a PE ratio of -16.85 and a beta of 2.32.

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

Insider Activity

In other news, Director David Helgason sold 7,860 shares of Unity Software stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $26.45, for a total value of $207,897.00. Following the completion of the transaction, the director now directly owns 10,493 shares in the company, valued at approximately $277,539.85. The trade was a 42.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Barrysmith sold 8,112 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.38, for a total value of $197,770.56. Following the transaction, the chief financial officer now owns 454,866 shares of the company’s stock, valued at approximately $11,089,633.08. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 762,597 shares of company stock worth $18,732,374. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Anderson Financial Strategies LLC purchased a new position in Unity Software during the fourth quarter worth about $28,000. R Squared Ltd bought a new stake in Unity Software during the fourth quarter worth about $30,000. Principal Securities Inc. lifted its stake in 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 during the last quarter. Planning Capital Management Corp bought a new stake in Unity Software during the third quarter worth about $34,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Unity Software during the fourth quarter worth about $36,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.