Advertisement
Canada markets open in 8 hours 28 minutes

  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CAD/USD

    0.7304
    +0.0006 (+0.08%)
     

  • CRUDE OIL

    82.89
    +0.08 (+0.10%)
     

  • Bitcoin CAD

    88,052.35
    -3,735.76 (-4.07%)
     

  • CMC Crypto 200

    1,389.47
    -34.63 (-2.43%)
     

  • GOLD FUTURES

    2,327.30
    -11.10 (-0.47%)
     

  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • NASDAQ futures

    17,450.75
    -213.75 (-1.21%)
     

  • VOLATILITY

    15.97
    +0.28 (+1.78%)
     

  • FTSE

    8,040.38
    -4.43 (-0.06%)
     

  • NIKKEI 225

    37,719.98
    -740.10 (-1.92%)
     

  • CAD/EUR

    0.6817
    -0.0002 (-0.03%)
     

Unity Software Inc. (U) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, Unity Software Inc. (U) closed at $117.92, marking a +1.15% move from the previous day. This move outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 0.42%.

Heading into today, shares of the company had lost 12.83% over the past month, lagging the Computer and Technology sector's loss of 5.11% and the S&P 500's gain of 0.22% in that time.

Unity Software Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 3, 2022. On that day, Unity Software Inc. is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 20%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $290.55 million, up 31.86% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Unity Software Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

ADVERTISEMENT

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Unity Software Inc. is currently a Zacks Rank #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Unity Software Inc. (U) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.