In the latest trading session, Unity Software Inc. (U) closed at $28.72, marking a -1.54% move from the previous day. This change lagged the S&P 500's daily gain of 0.56%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 1.35%.
Heading into today, shares of the company had lost 8.36% over the past month, lagging the Computer and Technology sector's gain of 6.41% and the S&P 500's loss of 1.48% in that time.
Investors will be hoping for strength from Unity Software Inc. as it approaches its next earnings release. The company is expected to report EPS of -$0.05, up 37.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $477.42 million, up 49.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.19 per share and revenue of $2.1 billion. These totals would mark changes of +146.34% and +51.01%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Unity Software Inc.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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 59.03% lower within the past month. Unity Software Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Unity Software Inc. currently has a Forward P/E ratio of 152.19. Its industry sports an average Forward P/E of 42.07, so we one might conclude that Unity Software Inc. is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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