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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 the most recent trading day at $31.61, moving -0.38% from the previous trading session. This move lagged the S&P 500's daily loss of 0.23%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the company had lost 6.26% in the past month. In that same time, the Computer and Technology sector lost 1.69%, while the S&P 500 lost 1.43%.
Wall Street will be looking for positivity from Unity Software Inc. as it approaches its next earnings report date. On that day, Unity Software Inc. is projected to report earnings of $0.16 per share, which would represent year-over-year growth of 214.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $552.86 million, up 71.23% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of $0.57 per share and revenue of $2.17 billion. These results would represent year-over-year changes of +239.02% and +56.13%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Unity Software Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Unity Software Inc.'s current valuation metrics, including its Forward P/E ratio of 55.67. Its industry sports an average Forward P/E of 36.51, so we one might conclude that Unity Software Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% 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) Dips More Than Broader Markets: What You Should Know
Unity Software Inc. (U - Free Report) closed the most recent trading day at $31.61, moving -0.38% from the previous trading session. This move lagged the S&P 500's daily loss of 0.23%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the company had lost 6.26% in the past month. In that same time, the Computer and Technology sector lost 1.69%, while the S&P 500 lost 1.43%.
Wall Street will be looking for positivity from Unity Software Inc. as it approaches its next earnings report date. On that day, Unity Software Inc. is projected to report earnings of $0.16 per share, which would represent year-over-year growth of 214.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $552.86 million, up 71.23% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of $0.57 per share and revenue of $2.17 billion. These results would represent year-over-year changes of +239.02% and +56.13%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Unity Software Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Unity Software Inc.'s current valuation metrics, including its Forward P/E ratio of 55.67. Its industry sports an average Forward P/E of 36.51, so we one might conclude that Unity Software Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% 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.