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Unity Software Inc. (U) Gains But Lags Market: What You Should Know
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Unity Software Inc. (U - Free Report) closed at $30.71 in the latest trading session, marking a +0.49% move from the prior day. This move lagged the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Heading into today, shares of the company had lost 18.44% over the past month, lagging the Computer and Technology sector's loss of 2.71% and the S&P 500's loss of 2.84% in that time.
Wall Street will be looking for positivity from Unity Software Inc. as it approaches its next earnings report date. In that report, analysts expect Unity Software Inc. to post earnings of $0.16 per share. This would mark year-over-year growth of 214.29%. Our most recent consensus estimate is calling for quarterly revenue of $552.86 million, up 71.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.57 per share and revenue of $2.17 billion, which would represent changes of +239.02% and +56.13%, respectively, from the prior year.
Any recent changes to analyst estimates for Unity Software Inc. should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Unity Software Inc. is currently trading at a Forward P/E ratio of 53.61. This represents a premium compared to its industry's average Forward P/E of 36.56.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% 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.
To follow U in the coming trading sessions, be sure to utilize Zacks.com.
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Unity Software Inc. (U) Gains But Lags Market: What You Should Know
Unity Software Inc. (U - Free Report) closed at $30.71 in the latest trading session, marking a +0.49% move from the prior day. This move lagged the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Heading into today, shares of the company had lost 18.44% over the past month, lagging the Computer and Technology sector's loss of 2.71% and the S&P 500's loss of 2.84% in that time.
Wall Street will be looking for positivity from Unity Software Inc. as it approaches its next earnings report date. In that report, analysts expect Unity Software Inc. to post earnings of $0.16 per share. This would mark year-over-year growth of 214.29%. Our most recent consensus estimate is calling for quarterly revenue of $552.86 million, up 71.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.57 per share and revenue of $2.17 billion, which would represent changes of +239.02% and +56.13%, respectively, from the prior year.
Any recent changes to analyst estimates for Unity Software Inc. should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Unity Software Inc. is currently trading at a Forward P/E ratio of 53.61. This represents a premium compared to its industry's average Forward P/E of 36.56.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% 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.
To follow U in the coming trading sessions, be sure to utilize Zacks.com.