Unity Software Stock Is Moving Lower: What's Going On?
Portfolio Pulse from Adam Eckert
Unity Software Inc (NYSE:U) shares are trading lower following an analyst downgrade by Piper Sandler from Overweight to Neutral, with a price target reduction from $48 to $30. This comes after multiple analysts lowered price targets last week following the retirement of CEO John Riccitiello. Unity reaffirmed its Q3 guidance and is set to report earnings on Nov. 9. The current average price target among analysts is approximately $57.89.
October 23, 2023 | 1:19 pm
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Unity Software's stock is trading lower due to an analyst downgrade and the retirement of its CEO. The company reaffirmed its Q3 guidance and is set to report earnings on Nov. 9.
The downgrade by Piper Sandler and the retirement of the CEO have negatively impacted Unity Software's stock. The reaffirmation of its Q3 guidance might stabilize the stock, but the overall sentiment is negative.
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