Is Unity Software Stock Going to $30? 1 Wall Street Analyst Thinks So.
Shares of Unity Software (NYSE: U) have taken a beating over the last few years. They're down 90% from their peak in 2021. But Wall Street analysts are generally bullish on the company's turnaround prospects.JMP Securities analyst Andrew Boone recently upgraded the stock to outperform (buy) with a $30 price target, implying 36% upside over the current $21.95 share price. This is slightly higher than the average 12-month Wall Street price target of $28.95. Here's the question investors need to ask: Is there a catalyst that could improve the company's financial results to send the stock higher this year?Unity has dealt with several challenges over the last year that have led to declining revenue. The company terminated its subscription agreement with computer animation company Weta FX, made changes to its product offering, and faced increasing competition in its advertising business. Continue reading
Shares of Unity Software (NYSE: U) have taken a beating over the last few years. They're down 90% from their peak in 2021. But Wall Street analysts are generally bullish on the company's turnaround prospects.
JMP Securities analyst Andrew Boone recently upgraded the stock to outperform (buy) with a $30 price target, implying 36% upside over the current $21.95 share price. This is slightly higher than the average 12-month Wall Street price target of $28.95. Here's the question investors need to ask: Is there a catalyst that could improve the company's financial results to send the stock higher this year?
Unity has dealt with several challenges over the last year that have led to declining revenue. The company terminated its subscription agreement with computer animation company Weta FX, made changes to its product offering, and faced increasing competition in its advertising business.
