Unity Software Inc. (U) Gains Market but Lags Behind: What You Need to Know

IIn the last trading session, Unity Software Inc. (U) closed at $94.92, marking a +0.23% move from the previous day. That move lagged the S&P 500’s 2.44% daily gain. Elsewhere, the Dow gained 1.65%, while the tech-heavy Nasdaq gained 0.28%.

Going into today, the company’s shares had lost 35.1% over the past month, trailing the IT & Technology sector’s 16.14% loss and the 9.65% loss of the S&P 500 during this period.

Wall Street will be looking for positivity from Unity Software Inc. as its next earnings report date nears. That is expected to be February 3, 2022. The company is expected to report EPS of -$0.08, up 20% from the prior year quarter. Meanwhile, Zacks’ consensus estimate for revenue calls for net sales of $290.55 million, up 31.86% from the prior year period.

It’s also important to note recent changes to analyst estimates for Unity Software Inc. These recent revisions tend to reflect the evolving nature of near-term business trends. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated to short-term stock prices. Investors can take advantage of this by using the Zacks ranking. This model accounts for these estimation changes and provides a simple and actionable scoring system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven track record of outperformance, with #1 stocks returning an average of +25% per year since 1988. In the past 30 days, our consensus EPS projection has remained stagnant. Unity Software Inc. currently holds a Zacks rating of #3 (Hold).

The Internet – Software industry is part of the IT and technology sector. This group has a Zacks Industry Rank of 164, which places it in the bottom 36% of all 250+ industries.

The Zacks Industry Ranking assesses the strength of our individual industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

To follow U in future trading sessions, be sure to use Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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