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Unity Software Inc. (U) Stock Sinks As Market Gains: What You Should Know
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Unity Software Inc. (U - Free Report) closed the most recent trading day at $43.69, moving -0.3% from the previous trading session. This move lagged the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 11.47%.
Heading into today, shares of the company had gained 13.58% over the past month, outpacing the Computer and Technology sector's gain of 2.44% and the S&P 500's gain of 3.34% in that time.
Wall Street will be looking for positivity from Unity Software Inc. as it approaches its next earnings report date. This is expected to be August 2, 2023. On that day, Unity Software Inc. is projected to report earnings of $0.06 per share, which would represent year-over-year growth of 133.33%. Our most recent consensus estimate is calling for quarterly revenue of $514.18 million, up 73.1% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of $0.37 per share and revenue of $2.14 billion. These results would represent year-over-year changes of +190.24% and +53.65%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Unity Software Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Unity Software Inc. is currently trading at a Forward P/E ratio of 117.53. Its industry sports an average Forward P/E of 43.12, 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 64, putting it in the top 26% 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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Unity Software Inc. (U) Stock Sinks As Market Gains: What You Should Know
Unity Software Inc. (U - Free Report) closed the most recent trading day at $43.69, moving -0.3% from the previous trading session. This move lagged the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 11.47%.
Heading into today, shares of the company had gained 13.58% over the past month, outpacing the Computer and Technology sector's gain of 2.44% and the S&P 500's gain of 3.34% in that time.
Wall Street will be looking for positivity from Unity Software Inc. as it approaches its next earnings report date. This is expected to be August 2, 2023. On that day, Unity Software Inc. is projected to report earnings of $0.06 per share, which would represent year-over-year growth of 133.33%. Our most recent consensus estimate is calling for quarterly revenue of $514.18 million, up 73.1% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of $0.37 per share and revenue of $2.14 billion. These results would represent year-over-year changes of +190.24% and +53.65%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Unity Software Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Unity Software Inc. is currently trading at a Forward P/E ratio of 117.53. Its industry sports an average Forward P/E of 43.12, 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 64, putting it in the top 26% 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.