Why Unity Software Stock Was Crumbling This Week
Over the past few days, stock market players seemed as if they were unified in bearishness about the prospects of Unity Software (NYSE: U). After all, the stock was down in price by more than 15% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence. Two recent analyst moves played a role in the decline.During the week, no less than three pundits weighed in with updates on Unity. Although one was positive, it's clear the market took the more downbeat takes to heart.Before market open on Monday, influential Wells Fargo analyst Brian Fitzgerald cut his price target on Unity stock by $5 per share for a new level of $22. Despite the change, he maintained his existing recommendation of equal weight (hold, in other words). Continue reading
Over the past few days, stock market players seemed as if they were unified in bearishness about the prospects of Unity Software (NYSE: U). After all, the stock was down in price by more than 15% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence. Two recent analyst moves played a role in the decline.
During the week, no less than three pundits weighed in with updates on Unity. Although one was positive, it's clear the market took the more downbeat takes to heart.
Before market open on Monday, influential Wells Fargo analyst Brian Fitzgerald cut his price target on Unity stock by $5 per share for a new level of $22. Despite the change, he maintained his existing recommendation of equal weight (hold, in other words).
