We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why Unity Software Inc. (U) Fell More Than Broader Market
Read MoreHide Full Article
Unity Software Inc. (U - Free Report) ended the recent trading session at $27.14, demonstrating a -1.24% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.37%. Elsewhere, the Dow saw an upswing of 0.29%, while the tech-heavy Nasdaq depreciated by 1.33%.
Shares of the company witnessed a gain of 7.47% over the previous month, beating the performance of the Computer and Technology sector with its gain of 4.52%, and the S&P 500's gain of 2.02%.
The upcoming earnings release of Unity Software Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 192.31% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $511.01 million, indicating a 15.89% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.03 per share and revenue of $2.11 billion, indicating changes of +19.77% and +13.88%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Unity Software Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Unity Software Inc. is holding a Forward P/E ratio of 26.78. This represents a premium compared to its industry average Forward P/E of 18.33.
Also, we should mention that U has a PEG ratio of 1.12. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.
View the Zacks #1 Rank List
Image: Bigstock
Here's Why Unity Software Inc. (U) Fell More Than Broader Market
Unity Software Inc. (U - Free Report) ended the recent trading session at $27.14, demonstrating a -1.24% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.37%. Elsewhere, the Dow saw an upswing of 0.29%, while the tech-heavy Nasdaq depreciated by 1.33%.
Shares of the company witnessed a gain of 7.47% over the previous month, beating the performance of the Computer and Technology sector with its gain of 4.52%, and the S&P 500's gain of 2.02%.
The upcoming earnings release of Unity Software Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 192.31% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $511.01 million, indicating a 15.89% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.03 per share and revenue of $2.11 billion, indicating changes of +19.77% and +13.88%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Unity Software Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Unity Software Inc. is holding a Forward P/E ratio of 26.78. This represents a premium compared to its industry average Forward P/E of 18.33.
Also, we should mention that U has a PEG ratio of 1.12. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.