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Here's Why Unity Software Inc. (U) Fell More Than Broader Market
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In the latest market close, Unity Software Inc. (U - Free Report) reached $20.69, with a -1.66% movement compared to the previous day. The stock fell short of the S&P 500, which registered a loss of 0.17% for the day. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.04%.
The company's shares have seen an increase of 32% over the last month, surpassing the Computer and Technology sector's gain of 1.41% and the S&P 500's gain of 1.25%.
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 per share (EPS) are projected to be -$0.39, reflecting a 316.67% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $427.99 million, down 21.36% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of -$1.86 per share and revenue of $1.76 billion. These results would represent year-over-year changes of -553.66% and -19.5%, respectively.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.11% higher. As of now, Unity Software Inc. holds a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 69, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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Here's Why Unity Software Inc. (U) Fell More Than Broader Market
In the latest market close, Unity Software Inc. (U - Free Report) reached $20.69, with a -1.66% movement compared to the previous day. The stock fell short of the S&P 500, which registered a loss of 0.17% for the day. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.04%.
The company's shares have seen an increase of 32% over the last month, surpassing the Computer and Technology sector's gain of 1.41% and the S&P 500's gain of 1.25%.
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 per share (EPS) are projected to be -$0.39, reflecting a 316.67% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $427.99 million, down 21.36% from the year-ago period.
U's full-year Zacks Consensus Estimates are calling for earnings of -$1.86 per share and revenue of $1.76 billion. These results would represent year-over-year changes of -553.66% and -19.5%, respectively.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.11% higher. As of now, Unity Software Inc. holds a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 69, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.