Unity Software Inc (NYSE:U) price on current trading day, rose 3.35% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $26.51.
A look at the stock’s price movement, the close in the last trading session was $25.65. Turning to its 52-week performance, $33.43 and $13.90 were the 52-week high and 52-week low respectively. Overall, U moved 21.89% over the past month.
Unity Software Inc’s market cap currently stands at around $10.86 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 414.5M for the company’s revenue for the quarter, with a low and high estimate of 409.1M and 422.17M respectively. The average forecast suggests down to a -9.97% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.78B, representing a -2.09% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that U is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
21 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 10 analyst(s) rate the stock as a Hold, 7 recommend U as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 3 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
U’s current price about 16.52% and 15.76% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 62.26, while 7-day volatility ratio is 10.13% and 5.99% in the 30-day chart. Further, Unity Software Inc (U) has a beta value of 2.27, and an average true range (ATR) of 1.78. Analysts have given the company’s stock an average 52-week price target of $22, forecast between a low of $15 and high of $27. Looking at the price targets, the low is 43.42% off current price level while to achieve the yearly target high, price needs to move -1.85%. Nonetheless, investors will most likely welcome a 17.01% jump to $22 which is the analysts’ median price.
If we refocus on Unity Software Inc (NYSE:U), historical trading data shows that trading volumes averaged 11.67 million over the past 3 months. The company’s latest data on shares outstanding shows there are 409.39 million shares.
The 24.77% of Unity Software Inc’s shares are in the hands of company insiders while institutional holders own 56.02% of the company’s shares. Current price change has pushed the stock 17.98% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the U stock continues to rise going into the next quarter.
