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Unity Software Inc. (U) Outperforms Broader Market: What You Need to Know
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In the latest trading session, Unity Software Inc. (U - Free Report) closed at $24.28, marking a +1.12% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.48%. Meanwhile, the Dow lost 0.02%, and the Nasdaq, a tech-heavy index, added 0.94%.
Coming into today, shares of the company had lost 8.36% in the past month. In that same time, the Computer and Technology sector gained 7.61%, while the S&P 500 gained 5.13%.
The investment community will be paying close attention to the earnings performance of Unity Software Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.26, reflecting a 18.75% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $425.02 million, indicating a 5.4% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.81 per share and a revenue of $1.79 billion, representing changes of +51.79% and -1.31%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Unity Software Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Unity Software Inc. boasts 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 47, positioning it in the top 20% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Unity Software Inc. (U) Outperforms Broader Market: What You Need to Know
In the latest trading session, Unity Software Inc. (U - Free Report) closed at $24.28, marking a +1.12% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.48%. Meanwhile, the Dow lost 0.02%, and the Nasdaq, a tech-heavy index, added 0.94%.
Coming into today, shares of the company had lost 8.36% in the past month. In that same time, the Computer and Technology sector gained 7.61%, while the S&P 500 gained 5.13%.
The investment community will be paying close attention to the earnings performance of Unity Software Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.26, reflecting a 18.75% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $425.02 million, indicating a 5.4% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.81 per share and a revenue of $1.79 billion, representing changes of +51.79% and -1.31%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Unity Software Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Unity Software Inc. boasts 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 47, positioning it in the top 20% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.