U - Unity Software: Watch From Sidelines During Reset
2024-03-15 15:01:54 ET
Summary
- Unity Software Inc. guided to weak numbers in 2024 after a period of strong growth.
- The company is undergoing a reset and still has an interim CEO, making investment views difficult, though the current retest of the $25 bottom might appeal to traders.
- The stock trades at 5x forward sales, not exactly cheap for a company with no growth during a reset.
After years of strong growth, Unity Software Inc. ( U ) guided to weak numbers in 2024. The game creation platform is resetting the business this year and still has an interim CEO in place, making a bullish investment view difficult. My investment thesis is more Neutral on the stock, though investors can look at starting initial positions at the current double bottom prices....
Unity Software: Watch From Sidelines During Reset