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Unity Software Inc. (U) Stock Sinks As Market Gains: Here's Why
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The most recent trading session ended with Unity Software Inc. (U - Free Report) standing at $31.97, reflecting a -1.33% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.25%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 1.3%.
Prior to today's trading, shares of the company had lost 12.27% over the past month. This has lagged the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58% in that time.
Investors will be eagerly watching for the performance of Unity Software Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 26, 2024. At the same time, our most recent consensus estimate is projecting a revenue of $540.05 million, reflecting a 19.75% rise from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Unity Software Inc. These recent revisions tend to reflect the evolving nature of short-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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Unity Software Inc. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Unity Software Inc. is at present trading with a Forward P/E ratio of 35.67. This denotes a premium relative to the industry's average Forward P/E of 32.99.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 76, this industry ranks in the top 31% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Unity Software Inc. (U) Stock Sinks As Market Gains: Here's Why
The most recent trading session ended with Unity Software Inc. (U - Free Report) standing at $31.97, reflecting a -1.33% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.25%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 1.3%.
Prior to today's trading, shares of the company had lost 12.27% over the past month. This has lagged the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58% in that time.
Investors will be eagerly watching for the performance of Unity Software Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 26, 2024. At the same time, our most recent consensus estimate is projecting a revenue of $540.05 million, reflecting a 19.75% rise from the equivalent quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Unity Software Inc. These recent revisions tend to reflect the evolving nature of short-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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Unity Software Inc. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Unity Software Inc. is at present trading with a Forward P/E ratio of 35.67. This denotes a premium relative to the industry's average Forward P/E of 32.99.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 76, this industry ranks in the top 31% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.