In the latest trading session, Unity Software Inc. (U) closed at $33.25, marking a -0.21% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.72%. At the same time, the Dow lost 1.62%, and the tech-heavy Nasdaq gained 0.09%.
Prior to today's trading, shares of the company had lost 31.85% over the past month. This has lagged the Computer and Technology sector's loss of 11.99% and the S&P 500's loss of 9.09% in that time.
Investors will be hoping for strength from Unity Software Inc. as it approaches 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.41 per share and revenue of $1.32 billion. These totals would mark changes of -86.36% and +19.31%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Unity Software Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Unity Software Inc. currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.$Unity Software Inc.(U)$
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