BTIG Research lifts Unity Software Inc. [U] price estimate. Who else is bullish?

Unity Software Inc. [NYSE: U] traded at a high on 01/06/23, posting a 4.49 gain after which it closed the day’ session at $27.25. The company report on December 5, 2022 that Witnessed by Coordinating Minister for Maritime Affairs & Investment, Luhut Binsar Panjaitan, and Minister of Investment, Bahlil Lahadalia, WIR Group Signed Memorandum of Understanding with Unity for Co-Development of Nusameta.

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Synergy between WIR Group and Unity aims to create interactive and highly immersive real-time 3D (RT3D) content for the Indonesia metaverse ecosystem, Nusameta, which is expected to launch in 2023.

Bali, Indonesia–(Newsfile Corp. – December 5, 2022) – PT WIR ASIA Tbk (WIR Group), the leading Augmented Reality (AR), Virtual Reality (VR) and Artificial Intelligence (AI) technology company in Southeast Asia signed an Memorandum of Understanding to collaborate with Unity (NYSE:U), the world’s leading platform for creating and operating interactive, real-time 3D (RT3D) content, for co-development an immersive virtual project Nusameta, an Indonesia metaverse ecosystem.

The results of the trading session contributed to over 10588393 shares changing hands. Over the past one week, the price volatility of Unity Software Inc. stands at 8.40% while the volatility over the past one month is 7.25%.

The market cap for U stock reached $10.51 billion, with 403.04 million shares outstanding and 323.04 million shares in the current float. Compared to the average trading volume of 11.84M shares, U reached a trading volume of 10588393 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $35.03 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 2.20. 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.

BTIG Research have made an estimate for Unity Software Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 08, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on November 28, 2022, representing the official price target for Unity Software Inc. stock. Previously, the target price had yet another raise to $36, while Goldman analysts kept a Neutral rating on U stock. On October 28, 2022, analysts decreased their price target for U shares from 42 to 38.

The Average True Range (ATR) for Unity Software Inc. is set at 2.30, with the Price to Sales ratio for U stock in the period of the last 12 months amounting to 8.37. The Price to Book ratio for the last quarter was 3.70, with the Price to Cash per share for the same quarter was set at 4.37.

How has U stock performed recently?

Unity Software Inc. [U] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.32. With this latest performance, U shares dropped by -20.60% in over the last four-week period, additionally sinking by -39.75% over the last 6 months – not to mention a drop of -77.48% 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 42.39, with the RSI for the last a single of trading hit 42.43, and the three-weeks RSI is set at 43.37 for Unity Software Inc. [U]. The present Moving Average for the last 50 days of trading for this stock 30.90, while it was recorded at 27.43 for the last single week of trading, and 44.65 for the last 200 days.

Unity Software Inc. [U]: Deeper insight into the fundamentals

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.

Insider trade positions for Unity Software Inc. [U]

There are presently around $7,124 million, or 57.30% 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 1.90% of the total institutional ownership; SC US (TTGP), LTD., holding 27,552,684 shares of the stock with an approximate value of $750.81 million in U stocks shares; and RESOLUTE ADVISORS LLC, currently with $587.47 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 February and at the time of the February reporting period, where 303 institutional holders increased their position in Unity Software Inc. [NYSE:U] by around 42,032,410 shares. Additionally, 259 investors decreased positions by around 35,942,199 shares, while 91 investors held positions by with 183,472,717 shares. The mentioned changes placed institutional holdings at 261,447,326 shares, according to the latest SEC report filing. U stock had 103 new institutional investments in for a total of 16,696,537 shares, while 116 institutional investors sold positions of 9,419,560 shares during the same period.

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