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Unity Software Inc. (U) Gains As Market Dips: What You Should Know

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Unity Software Inc. (U - Free Report) closed the most recent trading day at $38.04, moving +0.61% from the previous trading session. This change outpaced the S&P 500's 1.13% loss on the day. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.16%.

Prior to today's trading, shares of the company had lost 27.43% over the past month. This has lagged the Computer and Technology sector's loss of 12.18% and the S&P 500's loss of 7.59% in that time.

Unity Software Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Unity Software Inc. to post earnings of -$0.14 per share. This would mark a year-over-year decline of 133.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $323.33 million, up 12.92% from the year-ago period.

U's full-year Zacks Consensus Estimates are calling for earnings of -$0.41 per share and revenue of $1.32 billion. These results would represent year-over-year changes of -86.36% and +19.31%, respectively.

Investors should also note any recent changes to analyst estimates for Unity Software Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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