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Unity Software Inc. (U) Gains As Market Dips: What You Should Know
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Unity Software Inc. (U - Free Report) closed at $29.50 in the latest trading session, marking a +0.92% move from the prior day. This move outpaced the S&P 500's daily loss of 0.75%. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq gained 0.13%.
Prior to today's trading, shares of the company had lost 8.25% over the past month. This has lagged the Computer and Technology sector's gain of 0.71% and the S&P 500's gain of 4.98% in that time.
Wall Street will be looking for positivity from Unity Software Inc. as it approaches its next earnings report date. This is expected to be November 9, 2022. The company is expected to report EPS of -$0.14, down 133.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $323.33 million, up 12.92% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of -$0.40 per share and revenue of $1.32 billion. These results would represent year-over-year changes of -81.82% and +19.31%, respectively.
Any recent changes to analyst estimates for Unity Software Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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. Within the past 30 days, our consensus EPS projection has moved 1.32% higher. Unity Software Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Gains As Market Dips: What You Should Know
Unity Software Inc. (U - Free Report) closed at $29.50 in the latest trading session, marking a +0.92% move from the prior day. This move outpaced the S&P 500's daily loss of 0.75%. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq gained 0.13%.
Prior to today's trading, shares of the company had lost 8.25% over the past month. This has lagged the Computer and Technology sector's gain of 0.71% and the S&P 500's gain of 4.98% in that time.
Wall Street will be looking for positivity from Unity Software Inc. as it approaches its next earnings report date. This is expected to be November 9, 2022. The company is expected to report EPS of -$0.14, down 133.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $323.33 million, up 12.92% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of -$0.40 per share and revenue of $1.32 billion. These results would represent year-over-year changes of -81.82% and +19.31%, respectively.
Any recent changes to analyst estimates for Unity Software Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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. Within the past 30 days, our consensus EPS projection has moved 1.32% higher. Unity Software Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.