Goldman slashes price target on Unity Software Inc. [U] – find out why.

Unity Software Inc. [NYSE: U] loss -1.33% or -0.48 points to close at $35.69 with a heavy trading volume of 6195114 shares. The company report on November 9, 2022 that Unity Announces Third Quarter 2022 Financial Results.

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Unity delivered $322.9 million in revenue during the third quarter of 2022, up 13% year-over-year.

Unity Software Inc. (NYSE: U), the world’s leading platform for creating and growing interactive, real-time 3D (RT3D) content, today announced third quarter 2022 financial results, including revenue of $322.9 million, which is up 13% from the same period in 2021.

It opened the trading session at $35.34, the shares rose to $36.37 and dropped to $35.17, the range by which the price of stock traded the whole day. The daily chart for U points out that the company has recorded -6.86% loss over the past six months. However, it is still -68.19% lower than its most recent low trading price.

If we look at the average trading volume of 10.19M shares, U reached to a volume of 6195114 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Unity Software Inc. [U]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for U shares is $36.66 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on U stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Unity Software Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 15, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $42 to $38. The new note on the price target was released on October 28, 2022, representing the official price target for Unity Software Inc. stock. Previously, the target price had yet another raise to $50, while Needham analysts kept a Buy rating on U stock.

The Average True Range (ATR) for Unity Software Inc. is set at 2.62, with the Price to Sales ratio for U stock in the period of the last 12 months amounting to 7.88. The Price to Book ratio for the last quarter was 4.84, with the Price to Cash per share for the same quarter was set at 6.08.

Trading performance analysis for U stock

Unity Software Inc. [U] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.59. With this latest performance, U shares gained by 25.32% in over the last four-week period, additionally sinking by -6.86% over the last 6 months – not to mention a drop of -80.37% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for U stock in for the last two-week period is set at 59.16, with the RSI for the last a single of trading hit 62.68, and the three-weeks RSI is set at 55.81 for Unity Software Inc. [U]. The present Moving Average for the last 50 days of trading for this stock 31.41, while it was recorded at 34.40 for the last single week of trading, and 53.64 for the last 200 days.

Unity Software Inc. [U]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Unity Software Inc. [U] shares currently have an operating margin of -46.70 and a Gross Margin at +77.16. Unity Software Inc.’s Net Margin is presently recorded at -47.96.

Return on Equity for this stock declined to -24.04, with Return on Assets sitting at -14.18.

Unity Software Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.40.

An analysis of insider ownership at Unity Software Inc. [U]

There are presently around $9,386 million, or 76.90% of U stock, in the hands of institutional investors. The top three institutional holders of U stocks are: SILVER LAKE GROUP, L.L.C. with ownership of 34,984,419, which is approximately 0% of the company’s market cap and around 1.30% of the total institutional ownership; SC US (TTGP), LTD., holding 27,552,684 shares of the stock with an approximate value of $983.36 million in U stocks shares; and RESOLUTE ADVISORS LLC, currently with $769.42 million in U stock with ownership of nearly -0.915% of the company’s market capitalization.

Positions in Unity Software Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 308 institutional holders increased their position in Unity Software Inc. [NYSE:U] by around 42,024,872 shares. Additionally, 258 investors decreased positions by around 36,260,161 shares, while 92 investors held positions by with 184,701,416 shares. The mentioned changes placed institutional holdings at 262,986,449 shares, according to the latest SEC report filing. U stock had 107 new institutional investments in for a total of 16,701,413 shares, while 115 institutional investors sold positions of 9,414,900 shares during the same period.


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