Unity Software Inc. (NYSE:U) shares are trading 1% lower on Wednesday, pulling back after climbing more than 44% over the past three months. Here’s a look at what could be fueling the recent run.
What To Know: Since April, analysts from firms such as, UBS, Morgan Stanley, Stifel and Barclays have been weighing in on the stock. Analyst calls from recent weeks include:
- Needham analyst Bernie McTernan maintained a Buy rating on Unity and lowered the price target from $33 to $30.
- Stifel analyst Parker Lane maintained a Buy rating on Unity and lowered the price target from $35 to $28.
- Barclays analyst Ross Sandler maintained an Equal-Weight rating on Unity and lowered the price target from $26 to $25.
- Jefferies analyst Brent Thill upgraded Unity from a Hold rating to a Buy rating and raised the price target from $22 to $29.
- Wells Fargo analyst Alec Brondolo maintained an Equal-Weight rating on Unity and raised the price target from $19 to $24.
The consensus price target for Unity is $30.40, with the lowest price target sitting at $15 and the highest price target currently at $61.
In early May the company reported first quarter financial results, including sales of $435 million, beating the consensus estimate of $416.92 million. In addition, the company reported adjusted earnings per share of 24 cents, beating the consensus estimate of a 36 cent-loss.
The company guided second-quarter sales from $415 million to $425 million, versus the consensus estimate of $423.45 million.
The stock initially rose after the earnings report but then pulled back.
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U Price Action: At the time of writing, Unity stock is trading 1.09% lower at $29.11, according to data from Benzinga Pro.
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