In yesterday’s Wall Street session, Unity Software Inc (NYSE:U) shares traded at $20.90, down -8.93% from the previous session.
U stock price is now -8.30% away from the 50-day moving average and 2.02% away from the 200-day moving average. The market capitalization of the company currently stands at $8.42B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $20, Wells Fargo recently initiated with Equal Weight rating for Unity Software Inc (NYSE: U). On September 13, 2024, Stifel reiterated its ‘Buy’ rating on the stock by increasing its target price from $20 to quote $25, while ‘Morgan Stanley’ rates the stock as ‘Overweight’
In other news, Bar-Zeev Tomer, Director sold 250,000 shares of the company’s stock on Jan 02 ’25. The stock was sold for $6,254,434 at an average price of $25.02. Upon completion of the transaction, the Director now directly owns 3,648,146 shares in the company, valued at $76.25 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 02 ’25, Director Tomer Bar-Zeev bought 750,000 shares of the business’s stock. A total of $18,382,500 was incurred on buying the stock at an average price of $24.51. A total of 24.89% of the company’s stock is owned by insiders.
During the past 12 months, Unity Software Inc has had a low of $13.90 and a high of $38.85. As of last week, the company has a debt-to-equity ratio of 0.74, a current ratio of 2.41, and a quick ratio of 2.41. The fifty day moving average price for U is $22.7916 and a two-hundred day moving average price translates $20.4858 for the stock.
The latest earnings results from Unity Software Inc (NYSE: U) was released for 2024-09-30. The net profit margin was -40.41% and return on equity was -24.72% for U. The company reported revenue of $446.52 million for the quarter, compared to $544.21 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -17.95 percent.
