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Unity Software Inc. (U) Rises As Market Takes a Dip: Key Facts
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The latest trading session saw Unity Software Inc. (U - Free Report) ending at $33.11, denoting a +0.7% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.07%. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.36%.
The company's shares have seen a decrease of 22.96% over the last month, not keeping up with the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 3.05%.
Market participants will be closely following the financial results of Unity Software Inc. in its upcoming release. The company plans to announce its earnings on February 26, 2024. Meanwhile, our latest consensus estimate is calling for revenue of $540.05 million, up 19.75% from the prior-year quarter.
Investors should also pay attention to any latest changes in analyst estimates for Unity Software Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Unity Software Inc. is currently exchanging hands at a Forward P/E ratio of 36.2. This represents a premium compared to its industry's average Forward P/E of 34.06.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Rises As Market Takes a Dip: Key Facts
The latest trading session saw Unity Software Inc. (U - Free Report) ending at $33.11, denoting a +0.7% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.07%. Elsewhere, the Dow saw an upswing of 0.16%, while the tech-heavy Nasdaq depreciated by 0.36%.
The company's shares have seen a decrease of 22.96% over the last month, not keeping up with the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 3.05%.
Market participants will be closely following the financial results of Unity Software Inc. in its upcoming release. The company plans to announce its earnings on February 26, 2024. Meanwhile, our latest consensus estimate is calling for revenue of $540.05 million, up 19.75% from the prior-year quarter.
Investors should also pay attention to any latest changes in analyst estimates for Unity Software Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Unity Software Inc. is currently exchanging hands at a Forward P/E ratio of 36.2. This represents a premium compared to its industry's average Forward P/E of 34.06.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.