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Goldman Sachs Thinks Unity Software’s Stock is Going to Recover

In a report released today, Kash Rangan from Goldman Sachs maintained a Buy rating on Unity Software (UResearch Report), with a price target of $137.00. The company’s shares closed last Thursday at $90.15, close to its 52-week low of $73.12.

According to TipRanks.com, Rangan is a 5-star analyst with an average return of 12.8% and a 62.4% success rate. Rangan covers the Technology sector, focusing on stocks such as Definitive Healthcare Corp, Zoom Video Communications, and ZoomInfo Technologies.

Currently, the analyst consensus on Unity Software is a Strong Buy with an average price target of $133.70, implying a 42.0% upside from current levels. In a report issued on April 7, Citigroup also initiated coverage with a Buy rating on the stock with a $125.00 price target.

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Based on Unity Software’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $316 million and GAAP net loss of $162 million. In comparison, last year the company earned revenue of $220 million and had a GAAP net loss of $83.5 million.

Based on the recent corporate insider activity of 112 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

California-based Unity Software Inc. is a video game software development company. The platform provides software solutions to create and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The products are used in the gaming industry, architecture and construction sector, animation industry, and designing sector.

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