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Unity Software Inc. (U) Laps the Stock Market: Here's Why
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Unity Software Inc. (U - Free Report) closed the most recent trading day at $39.10, moving +2.09% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.17%, and the technology-centric Nasdaq increased by 0.39%.
Prior to today's trading, shares of the company had lost 2.05% lagged the Computer and Technology sector's gain of 8.78% and the S&P 500's gain of 3.94%.
The investment community will be paying close attention to the earnings performance of Unity Software Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.17, marking a 154.84% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $447.48 million, indicating a 0.21% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.78 per share and a revenue of $1.81 billion, demonstrating changes of +146.43% and -0.37%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Unity Software Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Unity Software Inc. is holding a Forward P/E ratio of 49.31. This represents a premium compared to its industry average Forward P/E of 29.57.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 56, placing it within the top 23% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Unity Software Inc. (U) Laps the Stock Market: Here's Why
Unity Software Inc. (U - Free Report) closed the most recent trading day at $39.10, moving +2.09% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.17%, and the technology-centric Nasdaq increased by 0.39%.
Prior to today's trading, shares of the company had lost 2.05% lagged the Computer and Technology sector's gain of 8.78% and the S&P 500's gain of 3.94%.
The investment community will be paying close attention to the earnings performance of Unity Software Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.17, marking a 154.84% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $447.48 million, indicating a 0.21% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.78 per share and a revenue of $1.81 billion, demonstrating changes of +146.43% and -0.37%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Unity Software Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Unity Software Inc. is holding a Forward P/E ratio of 49.31. This represents a premium compared to its industry average Forward P/E of 29.57.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 56, placing it within the top 23% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.