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Unity Software Inc. (U) Stock Dips While Market Gains: Key Facts
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In the latest close session, Unity Software Inc. (U - Free Report) was down 3.11% at $23.40. This move lagged the S&P 500's daily gain of 0.8%. Meanwhile, the Dow gained 0.94%, and the Nasdaq, a tech-heavy index, added 0.97%.
The company's stock has dropped by 1.59% in the past month, falling short of the Computer and Technology sector's gain of 8.5% and the S&P 500's gain of 5.12%.
The upcoming earnings release of Unity Software Inc. will be of great interest to investors. In that report, analysts expect Unity Software Inc. to post earnings of -$0.26 per share. This would mark year-over-year growth of 18.75%. In the meantime, our current consensus estimate forecasts the revenue to be $425.02 million, indicating a 5.4% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.81 per share and revenue of $1.79 billion, indicating changes of +51.79% and -1.31%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Unity Software Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 10.33% upward. Right now, Unity Software Inc. possesses a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 48, positioning it in the top 20% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Unity Software Inc. (U) Stock Dips While Market Gains: Key Facts
In the latest close session, Unity Software Inc. (U - Free Report) was down 3.11% at $23.40. This move lagged the S&P 500's daily gain of 0.8%. Meanwhile, the Dow gained 0.94%, and the Nasdaq, a tech-heavy index, added 0.97%.
The company's stock has dropped by 1.59% in the past month, falling short of the Computer and Technology sector's gain of 8.5% and the S&P 500's gain of 5.12%.
The upcoming earnings release of Unity Software Inc. will be of great interest to investors. In that report, analysts expect Unity Software Inc. to post earnings of -$0.26 per share. This would mark year-over-year growth of 18.75%. In the meantime, our current consensus estimate forecasts the revenue to be $425.02 million, indicating a 5.4% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.81 per share and revenue of $1.79 billion, indicating changes of +51.79% and -1.31%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Unity Software Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 10.33% upward. Right now, Unity Software Inc. possesses a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 48, positioning it in the top 20% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.