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Unity Software Inc. (U) Dips More Than Broader Markets: What You Should Know
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Unity Software Inc. (U - Free Report) closed at $28.32 in the latest trading session, marking a -1.46% move from the prior day. This change lagged the S&P 500's daily loss of 1.1%. At the same time, the Dow lost 1.19%, and the tech-heavy Nasdaq lost 3.27%.
Coming into today, shares of the company had lost 29.42% in the past month. In that same time, the Computer and Technology sector gained 1.45%, while the S&P 500 lost 3.02%.
Unity Software Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.05, up 37.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $477.42 million, up 49.13% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.19 per share and revenue of $2.1 billion, which would represent changes of +146.34% and +51.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Unity Software Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 57.25% lower. Unity Software Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Unity Software Inc. currently has a Forward P/E ratio of 149.95. Its industry sports an average Forward P/E of 40.65, so we one might conclude that Unity Software Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% 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.
To follow U in the coming trading sessions, be sure to utilize Zacks.com.
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Unity Software Inc. (U) Dips More Than Broader Markets: What You Should Know
Unity Software Inc. (U - Free Report) closed at $28.32 in the latest trading session, marking a -1.46% move from the prior day. This change lagged the S&P 500's daily loss of 1.1%. At the same time, the Dow lost 1.19%, and the tech-heavy Nasdaq lost 3.27%.
Coming into today, shares of the company had lost 29.42% in the past month. In that same time, the Computer and Technology sector gained 1.45%, while the S&P 500 lost 3.02%.
Unity Software Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.05, up 37.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $477.42 million, up 49.13% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.19 per share and revenue of $2.1 billion, which would represent changes of +146.34% and +51.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Unity Software Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 57.25% lower. Unity Software Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Unity Software Inc. currently has a Forward P/E ratio of 149.95. Its industry sports an average Forward P/E of 40.65, so we one might conclude that Unity Software Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% 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.
To follow U in the coming trading sessions, be sure to utilize Zacks.com.