Unity Software Inc. (U) closed at $100.53 in the latest trading session, marking a -1.12% move from the prior day. This move lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, added 0.76%.
Prior to today's trading, shares of the company had lost 14.11% over the past month. This has lagged the Computer and Technology sector's loss of 6.54% and the S&P 500's gain of 0.17% in that time.
U will be looking to display strength as it nears its next earnings release.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.35 per share and revenue of $975.25 million, which would represent changes of +10.26% and +26.25%, 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. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. U currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Unity Software Inc. (U): Free Stock Analysis Report
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