U - Unity Software Suspends Guidance To Assess 'Product Portfolio And Cost Structure': 5 Analysts Open Up About Q3 Earnings Report | Benzinga
Unity Software Inc (NYSE: U) announced layoffs and cost-cutting plans after releasing its third-quarter earnings.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
Stifel On Unity Software
Analyst Parker Lane maintained a Buy rating while slashing the price target from $40 to $28.
Unity Software reported its third-quarter revenues short of the consensus estimate, "in part due to the runtime fee introduction headwinds that bled into October,” Lane said in a note. Management indicated that these headwinds "are largely behind the company at this point,” he added.
Unity Software "told investors to expect changes to the company's product catalog over the next quarter or two, as the company looks to drive additional leverage and more sustainable growth,” the analyst further stated.
Wedbush On Unity Software
Analyst Michael Pachter reiterated an Outperform rating, while cutting the price target from ...