Unity Software Inc. (U) ended the recent trading session at $20.77, demonstrating a +1.42% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 2.13%. Elsewhere, the Dow gained 1.65%, while the tech-heavy Nasdaq added 2.61%.
Shares of the company have depreciated by 1.25% over the course of the past month, outperforming the Computer and Technology sector's loss of 13.29% and the S&P 500's loss of 9.57%.
The investment community will be closely monitoring the performance of Unity Software Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.35, down 333.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $412.05 million, down 10.5% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.19 per share and a revenue of $1.78 billion, indicating changes of +29.17% and -1.8%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Unity Software Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.2% higher. Unity Software Inc. is currently a Zacks Rank #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 75, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Unity Software Inc. (U) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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