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Unity Software Inc. (U) Outpaces Stock Market Gains: What You Should Know
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Unity Software Inc. (U - Free Report) closed the most recent trading day at $29.99, moving +1.87% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.33%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.92%.
Coming into today, shares of the company had gained 3.95% in the past month. In that same time, the Computer and Technology sector gained 7.45%, while the S&P 500 gained 5.67%.
Unity Software Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 10, 2023. On that day, Unity Software Inc. is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 37.5%. 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 should also note any recent changes to analyst estimates for Unity Software Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Unity Software Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Unity Software Inc. is holding a Forward P/E ratio of 153.6. This valuation marks a premium compared to its industry's average Forward P/E of 41.37.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Unity Software Inc. (U) Outpaces Stock Market Gains: What You Should Know
Unity Software Inc. (U - Free Report) closed the most recent trading day at $29.99, moving +1.87% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.33%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.92%.
Coming into today, shares of the company had gained 3.95% in the past month. In that same time, the Computer and Technology sector gained 7.45%, while the S&P 500 gained 5.67%.
Unity Software Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 10, 2023. On that day, Unity Software Inc. is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 37.5%. 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 should also note any recent changes to analyst estimates for Unity Software Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Unity Software Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Unity Software Inc. is holding a Forward P/E ratio of 153.6. This valuation marks a premium compared to its industry's average Forward P/E of 41.37.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.