Unity Software Inc. (U) closed at $21.96 in the latest trading session, marking a +1.2% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.12%. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the company had lost 13.75% over the past month. This has lagged the Computer and Technology sector's loss of 3.73% and the S&P 500's loss of 3.45% in that time.
The upcoming earnings release of Unity Software Inc. will be of great interest to investors. On that day, Unity Software Inc. is projected to report earnings of -$0.35 per share, which would represent a year-over-year decline of 252.17%. Meanwhile, our latest consensus estimate is calling for revenue of $431.77 million, down 29.13% from the prior-year quarter.
Investors should also pay attention to any latest changes in analyst estimates for Unity Software Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.64% higher. Unity Software Inc. is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 34, finds itself in the top 14% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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