Shares Of Unity Software Inc (NYSE: U) Could Show A Loss Of -576.44%

In the last trading session, 6.25 million shares of the Unity Software Inc (NYSE:U) were traded, and its beta was 2.42. Most recently the company’s share price was $26.61, and it changed around -$0.09 or -0.34% from the last close, which brings the market valuation of the company to $10.27B. U currently trades at a discount to its 52-week high of $50.08, offering almost -88.2% off that amount. The share price’s 52-week low was $22.20, which indicates that the current value has risen by an impressive 16.57% since then. We note from Unity Software Inc’s average daily trading volume that its 10-day average is 7.27 million shares, with the 3-month average coming to 11.10 million.

Unity Software Inc (NYSE:U) trade information

Instantly U has showed a red trend with a performance of -0.34% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -34.92% year-to-date, but still down -1.41% over the last five days. On the other hand, Unity Software Inc (NYSE:U) is -9.24% down in the 30-day period. We can see from the shorts that 32.84 million shares have been sold at a short interest cover period of 2.59 day(s).

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The consensus price target as assigned by Wall Street analysts is $79.5, which translates to bulls needing to increase their stock price by 66.53% from its current value. Analyst projections state that U is forecast to be at a low of $27.5 and a high of $180.

Unity Software Inc (U) estimates and forecasts

Unity Software Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -13.35 percent over the past six months and at a 48.78% annual growth rate that is well above the industry average of 19.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 6.00% in revenue this quarter, and will report an increase of 13.70% in the next quarter. The year-over-year growth rate is expected to be -17.20%, down from the previous year.

Consensus estimates provided by 18 financial analysts predict the company will bring in an average of $432.28 million in revenue for the current quarter. 18 analysts expect Unity Software Inc to make $442.45 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $500.36 million and $533.48 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -13.60%. Forecasts for the next quarter put sales growth at -17.10%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -34.36%.

U Dividends

Unity Software Inc’s next quarterly earnings report is expected to be released around May 08 and May 13.

Unity Software Inc (NYSE:U)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 10.82% of Unity Software Inc shares, and 71.52% of them are in the hands of institutional investors. The stock currently has a share float of 80.20%. Unity Software Inc stock is held by 761 institutions, with Silver Lake Group, LLC being the largest institutional investor. By Jun 29, 2023, it held 9.12% of the shares, which is about 34.98 million shares worth $1.52 billion.

Sc Us (ttgp), Ltd., with 7.16% or 27.45 million shares worth $1.19 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 7.99 million shares worth $250.68 million, making up 2.08% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 7.7 million shares worth around $334.3 million, which represents about 2.01% of the total shares outstanding.