U - Unity Software Downgraded On Heels Of Portfolio Reset 5 Analysts Provide Key Takeaways | Benzinga
Shares of Unity Software Inc (NYSE: U) tanked in early trading on Tuesday, after the company reported a higher-than-expected loss for the fourth quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
- Piper Sandler analyst Brent Bracelin upgraded the rating from Underweight to Neutral, while raising the price target from $30 to $35.
- Needham analyst Bernie McTernan reiterated a Buy rating, while cutting the price target from $40 to $31.
- Wedbush analyst Michael Pachter reaffirmed an Outperform rating, while trimming the price target from $50.00 to $35.50.
- Oppenheimer analyst Martin Yang maintained a Perform rating on the stock.
- Goldman Sachs analyst Kash Rangan reiterated a Neutral rating, while reducing the price target from $32 to $29.
Check out other analyst stock ratings.
Piper Sandler: Unity Software’s fourth-quarter revenues grew 35% year-on-year to $609 million, but was down by 2% at $510 million excluding a one-time revenue gain from the termination of the service agreement with Weta FX, Bracelin said.
"The top-line continued to be pressured by the ongoing portfolio reset, as well as competitive pressure within the ...