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Unity Software Inc. (U) Declines More Than Market: Some Information for Investors
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Unity Software Inc. (U - Free Report) ended the recent trading session at $16.21, demonstrating a -0.98% swing from the preceding day's closing price. This change lagged the S&P 500's 0.71% loss on the day. At the same time, the Dow lost 0.93%, and the tech-heavy Nasdaq lost 0.81%.
The the stock of company has risen by 5.41% in the past month, leading the Computer and Technology sector's loss of 3.88% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of Unity Software Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on August 8, 2024. It is anticipated that the company will report an EPS of -$0.44, marking a 728.57% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $433.43 million, indicating a 18.76% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.81 per share and revenue of $1.83 billion, which would represent changes of -541.46% and -16.21%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Unity Software Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Unity Software Inc. is carrying a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Unity Software Inc. (U) Declines More Than Market: Some Information for Investors
Unity Software Inc. (U - Free Report) ended the recent trading session at $16.21, demonstrating a -0.98% swing from the preceding day's closing price. This change lagged the S&P 500's 0.71% loss on the day. At the same time, the Dow lost 0.93%, and the tech-heavy Nasdaq lost 0.81%.
The the stock of company has risen by 5.41% in the past month, leading the Computer and Technology sector's loss of 3.88% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of Unity Software Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on August 8, 2024. It is anticipated that the company will report an EPS of -$0.44, marking a 728.57% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $433.43 million, indicating a 18.76% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.81 per share and revenue of $1.83 billion, which would represent changes of -541.46% and -16.21%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Unity Software Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Unity Software Inc. is carrying a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.