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Unity Software Inc. (U) Ascends But Remains Behind Market: Some Facts to Note
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Unity Software Inc. (U - Free Report) closed the latest trading day at $29.44, indicating a +0.41% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.81% for the day. On the other hand, the Dow registered a gain of 0.39%, and the technology-centric Nasdaq increased by 1.35%.
Coming into today, shares of the company had lost 24% in the past month. In that same time, the Computer and Technology sector lost 6.4%, while the S&P 500 lost 6.19%.
Investors will be eagerly watching for the performance of Unity Software Inc. in its upcoming earnings disclosure. 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%. In the meantime, our current consensus estimate forecasts the revenue to be $552.86 million, indicating a 71.23% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.57 per share and a revenue of $2.17 billion, representing changes of +239.02% and +56.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Unity Software Inc. 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. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Unity Software Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Unity Software Inc. is currently trading at a Forward P/E ratio of 51.44. This indicates a premium in contrast to its industry's Forward P/E of 35.93.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Ascends But Remains Behind Market: Some Facts to Note
Unity Software Inc. (U - Free Report) closed the latest trading day at $29.44, indicating a +0.41% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.81% for the day. On the other hand, the Dow registered a gain of 0.39%, and the technology-centric Nasdaq increased by 1.35%.
Coming into today, shares of the company had lost 24% in the past month. In that same time, the Computer and Technology sector lost 6.4%, while the S&P 500 lost 6.19%.
Investors will be eagerly watching for the performance of Unity Software Inc. in its upcoming earnings disclosure. 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%. In the meantime, our current consensus estimate forecasts the revenue to be $552.86 million, indicating a 71.23% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.57 per share and a revenue of $2.17 billion, representing changes of +239.02% and +56.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Unity Software Inc. 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. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Unity Software Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Unity Software Inc. is currently trading at a Forward P/E ratio of 51.44. This indicates a premium in contrast to its industry's Forward P/E of 35.93.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 76, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.