In the latest trading session, Unity Software Inc. (U) closed at $137.76, marking a -1.06% move from the previous day. This change lagged the S&P 500’s 0.3% gain on the day.
Heading into today, shares of the company had gained 5.7% over the past month, outpacing the Computer and Technology sector’s loss of 5.35% and the S&P 500’s loss of 2.37% in that time.
U will be looking to display strength as it nears its next earnings release, which is expected to be November 9, 2021. In that report, analysts expect U to post earnings of -$0.06 per share. This would mark year-over-year growth of 33.33%. Our most recent consensus estimate is calling for quarterly revenue of $266.14 million, up 32.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.23 per share and revenue of $1.06 billion, which would represent changes of +41.03% and +37.41%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for U. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. U is holding a Zacks Rank of #3 (Hold) right now.
The Internet – Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 34% 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.
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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