Unity Software Inc. (U) Increases Yet Falls Behind Market: What Investors Need to Know
In the latest trading session, Unity Software Inc. (U) closed at $31.02, marking a +0.62% move from the previous day. This move lagged the S&P 500's daily gain of 2.11%. On the other hand, the Dow registered a gain of 1.18%, and the technology-centric Nasdaq increased by 2.96%.
Shares of the company witnessed a loss of 6.66% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.69% and the S&P 500's gain of 3.08%.
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 February 26, 2024. Our most recent consensus estimate is calling for quarterly revenue of $536.48 million, up 18.96% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Unity Software Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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 has moved 4.02% lower within the past month. Currently, Unity Software Inc. is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, Unity Software Inc. is currently trading at a Forward P/E ratio of 35.64. Its industry sports an average Forward P/E of 31.63, so one might conclude that Unity Software Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Unity Software Inc. (U) : Free Stock Analysis Report
