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Unity Software Inc. (U) Stock Declines While Market Improves: Some Information for Investors
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Unity Software Inc. (U - Free Report) closed the most recent trading day at $16.35, moving -1.57% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq increased by 0.07%.
The the stock of company has risen by 2.15% in the past month, leading the Computer and Technology sector's loss of 4.62% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Unity Software Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company's earnings per share (EPS) are projected to be -$0.44, reflecting a 728.57% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $433.43 million, indicating a 18.76% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.81 per share and a revenue of $1.83 billion, representing changes of -541.46% and -16.21%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Unity Software Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Unity Software Inc. is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 39% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Unity Software Inc. (U) Stock Declines While Market Improves: Some Information for Investors
Unity Software Inc. (U - Free Report) closed the most recent trading day at $16.35, moving -1.57% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq increased by 0.07%.
The the stock of company has risen by 2.15% in the past month, leading the Computer and Technology sector's loss of 4.62% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Unity Software Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company's earnings per share (EPS) are projected to be -$0.44, reflecting a 728.57% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $433.43 million, indicating a 18.76% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.81 per share and a revenue of $1.83 billion, representing changes of -541.46% and -16.21%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Unity Software Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Unity Software Inc. is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 39% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.