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Unity Software Inc. (U) Dips More Than Broader Markets: What You Should Know
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Unity Software Inc. (U - Free Report) closed at $99.21 in the latest trading session, marking a -1.98% move from the prior day. This change lagged the S&P 500's daily loss of 1.57%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Coming into today, shares of the company had lost 0.16% in the past month. In that same time, the Computer and Technology sector gained 4.23%, while the S&P 500 gained 5.37%.
Investors will be hoping for strength from Unity Software Inc. as it approaches its next earnings release. On that day, Unity Software Inc. is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 20%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $321.46 million, up 36.92% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of -$0.18 per share and revenue of $1.5 billion. These results would represent year-over-year changes of +18.18% and +34.89%, respectively.
Any recent changes to analyst estimates for Unity Software Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.86% lower within the past month. Unity Software Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow U in the coming trading sessions, be sure to utilize Zacks.com.
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Unity Software Inc. (U) Dips More Than Broader Markets: What You Should Know
Unity Software Inc. (U - Free Report) closed at $99.21 in the latest trading session, marking a -1.98% move from the prior day. This change lagged the S&P 500's daily loss of 1.57%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Coming into today, shares of the company had lost 0.16% in the past month. In that same time, the Computer and Technology sector gained 4.23%, while the S&P 500 gained 5.37%.
Investors will be hoping for strength from Unity Software Inc. as it approaches its next earnings release. On that day, Unity Software Inc. is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 20%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $321.46 million, up 36.92% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of -$0.18 per share and revenue of $1.5 billion. These results would represent year-over-year changes of +18.18% and +34.89%, respectively.
Any recent changes to analyst estimates for Unity Software Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.86% lower within the past month. Unity Software Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow U in the coming trading sessions, be sure to utilize Zacks.com.