In the latest trading session, Unity Software Inc. (U) closed at $34.90, marking a -0.85% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.71%. Meanwhile, the Dow lost 1.7%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Heading into today, shares of the company had lost 21.64% over the past month, lagging the Computer and Technology sector's loss of 12.12% and the S&P 500's loss of 8.68% in that time.
Unity Software Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Unity Software Inc. to post earnings of -$0.14 per share. This would mark a year-over-year decline of 133.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $323.33 million, up 12.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.41 per share and revenue of $1.32 billion, which would represent changes of -86.36% and +19.31%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Unity Software Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Unity Software Inc. is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 137, which puts it in the bottom 46% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Unity Software Inc. (U) : Free Stock Analysis Report
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