Unity Software Inc (NYSE:U) shares, rose in value, with the stock price up by 0.16% to the previous day’s close as strong demand from buyers drove the stock to $25.36.
Actively observing the price movement in the last trading, the stock closed the session at $25.32. The value of beta (5-year monthly) was 2.44. Referring to stock’s 52-week performance, its high was $50.08, and the low was $22.20. On the whole, U has fluctuated by -6.28% over the past month.
With the market capitalization of Unity Software Inc currently standing at about $9.79 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.63, which is expected to increase to -$0.08 for fiscal year -$1.7 and then to about -$1.17 by fiscal year 2025. Data indicates that the EPS growth is expected to be 21.30% in 2025, while the next year’s EPS growth is forecast to be 31.20%.
Analysts have estimated the company’s revenue for the quarter at $432.28 million, with a low estimate of $416.8 million and a high estimate of $470.08 million. According to the average forecast, sales growth in current quarter could jump down -13.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.81 billion, representing a decrease of -17.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that U’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of U currently trading nearly -4.49% and -14.75% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.57, while the 7-day volatility ratio is showing 3.34% which for the 30-day chart, stands at 3.84%. Furthermore, Unity Software Inc (U)’s beta value is 2.41, and its average true range (ATR) is 1.19.
A comparison of Unity Software Inc (U) with its peers suggests the former has fared considerably weaker in the market. U showed an intraday change of 0.16% in last session, and over the past year, it shrunk by -21.78%%.
Data on historical trading for Unity Software Inc (NYSE:U) indicates that the trading volumes over the past 10 days have averaged 6.97 million and over the past 3 months, they’ve averaged 10.78 million. According to company’s latest data on outstanding shares, there are 384.87 million shares outstanding.
Nearly 33.86% of Unity Software Inc’s shares belong to company insiders and institutional investors own 48.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 32.84 million shares as on Mar 15, 2024, resulting in a short ratio of 2.59. According to the data, the short interest in Unity Software Inc (U) stood at 8.51% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 32.96 million. The stock has fallen by -37.98% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the U stock heading into the next quarter.
