Unity Software Stock Is Falling Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Unity Software Inc (NYSE:U) shares fell after reporting Q4 financial results. Revenue increased 35% YoY to $609 million, beating estimates, but the loss per share of 66 cents missed expectations. The company forecasts Q1 strategic portfolio revenue between $415 million to $420 million and full-year 2024 revenue of $1.76 billion to $1.8 billion. Piper Sandler upgraded Unity from Underweight to Neutral, lowering the price target from $35 to $30. Shares were down 13.3% at $28.65.
February 27, 2024 | 1:33 pm
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Unity Software Inc reported a 35% increase in Q4 revenue but missed EPS estimates, leading to a 13.3% drop in stock price. Piper Sandler upgraded the stock from Underweight to Neutral, with a price target reduction from $35 to $30.
The stock price of Unity Software Inc fell significantly due to the company's Q4 financial results missing EPS estimates despite beating revenue expectations. The analyst upgrade from Piper Sandler, despite a lower price target, indicates a neutral outlook but the immediate negative reaction in stock price reflects investor disappointment in the earnings miss.
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