Unity Software Inc. (U) closed the most recent trading day at $44.52, moving -3.03% from the previous trading session. This change lagged the S&P 500's daily loss of 0.55%. Elsewhere, the Dow saw a downswing of 0.19%, while the tech-heavy Nasdaq depreciated by 0.95%.
Shares of the company have appreciated by 15.27% over the course of the past month, outperforming the Computer and Technology sector's gain of 9.88%, and the S&P 500's gain of 3.64%.
The investment community will be closely monitoring the performance of Unity Software Inc. in its forthcoming earnings report. On that day, Unity Software Inc. is projected to report earnings of $0.17 per share, which would represent year-over-year growth of 154.84%. At the same time, our most recent consensus estimate is projecting a revenue of $447.48 million, reflecting a 0.21% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.78 per share and revenue of $1.81 billion, which would represent changes of +146.43% and -0.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Unity Software Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Unity Software Inc. possesses a Zacks Rank of #2 (Buy).
Investors should also note Unity Software Inc.'s current valuation metrics, including its Forward P/E ratio of 59.11. This represents a premium compared to its industry average Forward P/E of 32.31.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 70, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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