Unity Software Inc. (U) closed the most recent trading day at $29.22, moving +1% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.14% for the day. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq appreciated by 0.27%.
Heading into today, shares of the company had gained 22.27% over the past month, outpacing the Computer and Technology sector's gain of 5.36% and the S&P 500's gain of 3.97%.
The investment community will be closely monitoring the performance of Unity Software Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.26, reflecting a 18.75% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $425.02 million, showing a 5.4% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.81 per share and a revenue of $1.79 billion, signifying shifts of +51.79% and -1.31%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Unity Software Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Unity Software Inc. holds 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 65, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 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): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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