The latest trading session saw Unity Software Inc. (U) ending at $22.95, denoting a -0.56% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq lost 0.06%.
The the stock of company has fallen by 12.58% in the past month, lagging the Computer and Technology sector's loss of 0.17% and the S&P 500's loss of 2.8%.
Investors will be eagerly watching for the performance of Unity Software Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.35, down 252.17% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $431.77 million, down 29.13% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Unity Software Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.64% higher. Currently, Unity Software Inc. is carrying a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 33, positioning it in the top 14% 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.
To follow U in the coming trading sessions, be sure to utilize Zacks.com.
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