Unity Software Inc. (NYSE: U) stock jumped 0.11% on Wednesday to $28.34 against a previous-day closing price of $28.31. With 5.49 million shares changed hands, the volume of the stock remained lighter than its average volume of 7.98 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $28.42 whereas the lowest price it dropped to was $27.66. The 52-week range on U shows that it touched its highest point at $58.62 and its lowest point at $21.22 during that stretch. It currently has a 1-year price target of $36.40.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of U was down-trending over the past week, with a drop of -5.78%, but this was up by 5.04% over a month. Three-month performance dropped to -10.96% while six-month performance fell -11.69%. The stock lost -30.93% in the past year, while it has lost -0.87% so far this year. A look at the trailing 12-month EPS for U yields -3.02 with Next year EPS estimates of 0.89. For the next quarter, that number is 0.07. This implies an EPS growth rate of -57.20% for this year and 138.07% for next year.
Float and Shares Shorts:
At present, 375.91 million U shares are outstanding with a float of 323.20 million shares on hand for trading. On Apr 27, 2023, short shares totaled 24.4 million, which was 6.45% higher than short shares on Mar 30, 2023. In addition to Mr. John S. Riccitiello as the firm’s CEO, Pres & Exec. Chairman, Mr. David Helgason serves as its Co-Founder & Independent Director.
Institutional Ownership:
Through their ownership of 72.90% of U’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 36.83% of U, in contrast to 22.05% held by mutual funds. Shares owned by individuals account for 17.06%. As the largest shareholder in U with 6.45% of the stake, The Vanguard Group, Inc. holds 24,153,701 shares worth 24,153,701. A second-largest stockholder of U, ARK Investment Management LLC, holds 12,307,660 shares, controlling over 3.28% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in U, holding 9,836,025 shares or 2.63% stake. With a 2.31% stake in U, the ARK Innovation ETF is the largest stakeholder. A total of 8,664,608 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.17% of U stock, is the second-largest Mutual Fund holder. It holds 8,126,139 shares valued at 219.16 million. Vanguard Mid Cap Index Fund holds 1.63% of the stake in U, owning 6,116,161 shares worth 164.95 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, U reported revenue of $297.04M and operating income of -$197.67M. The EBITDA in the recently reported quarter was -$155.03M and diluted EPS was -$0.69.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for U since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With U analysts setting a high price target of $66.00 and a low target of $12.00, the average target price over the next 12 months is $37.11. Based on these targets, U could surge 132.89% to reach the target high and fall by -57.66% to reach the target low. Reaching the average price target will result in a growth of 30.95% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded U stock several times over the past three months with 0 Buys and 6 Sells. In these transactions, 0 shares were bought while 155,328 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 26,267,610 while 12,325,807 shares were sold.
