We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Unity Software Inc. (U) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
Unity Software Inc. (U - Free Report) ended the recent trading session at $16.20, demonstrating a -0.95% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.5%. On the other hand, the Dow registered a gain of 0.5%, and the technology-centric Nasdaq decreased by 1.28%.
The company's stock has climbed by 3.42% in the past month, exceeding the Computer and Technology sector's loss of 4.37% and the S&P 500's gain of 0.1%.
Market participants will be closely following the financial results of Unity Software Inc. in its upcoming release. The company plans to announce 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, our latest consensus estimate is calling for revenue of $433.43 million, down 18.76% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.81 per share and revenue of $1.83 billion, indicating changes of -541.46% and -16.21%, respectively, compared to the previous year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 103, this industry ranks in the top 41% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Unity Software Inc. (U) Dips More Than Broader Market: What You Should Know
Unity Software Inc. (U - Free Report) ended the recent trading session at $16.20, demonstrating a -0.95% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.5%. On the other hand, the Dow registered a gain of 0.5%, and the technology-centric Nasdaq decreased by 1.28%.
The company's stock has climbed by 3.42% in the past month, exceeding the Computer and Technology sector's loss of 4.37% and the S&P 500's gain of 0.1%.
Market participants will be closely following the financial results of Unity Software Inc. in its upcoming release. The company plans to announce 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, our latest consensus estimate is calling for revenue of $433.43 million, down 18.76% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.81 per share and revenue of $1.83 billion, indicating changes of -541.46% and -16.21%, respectively, compared to the previous year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 103, this industry ranks in the top 41% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.