Needham Sticks to Its Buy Rating for Unity Software (U)

Needham analyst Bernie McTernan reiterated a Buy rating on Unity Software today and set a price target of $35.00.

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McTernan covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, Rush Street Interactive, and Super Group (SGHC). According to TipRanks, McTernan has an average return of 0.0% and a 40.84% success rate on recommended stocks.

In addition to Needham, Unity Software also received a Buy from William Blair’s Dylan Becker in a report issued today. However, on the same day, TipRanks – OpenAI reiterated a Hold rating on Unity Software (NYSE: U).

Based on Unity Software’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $503.09 million and a GAAP net loss of $89.96 million. In comparison, last year the company earned a revenue of $457.1 million and had a GAAP net loss of $122.73 million

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of U in relation to earlier this year. Earlier this month, Jarrod Yahes, the SVP & CFO of U sold 6,205.00 shares for a total of $130,491.15.