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$62.13 -1.2  -1.9%

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Market Cap £n/a
Enterprise Value £n/a
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Position in Universe th / 6848

BUZZ-Unity Software slumps as guidance underwhelms

Fri 5th February, 2021 3:31pm
** Unity Software  U.N  shares down 10.7% to $133.72 after
gaming platform's qtrly report
    ** Stock on track for worst day in nearly three months
    ** U forecasts FY2021 rev of $950-$970 mln vs consensus view
of $956.1 mln, per Refinitiv dataoka
    ** D.A. Davidson in research note cites co's growing
dominance in gaming, but expects stock to trade lower due to
lack of upside on "the in-line 2021 guide, given the high
expectations embedded in the current valuation"
    ** Q4 rev grew 39% yr/yr to $220.3 mln and adj loss was 10
cents/shr, both beating analysts' estimates  urn:newsml:reuters.com:*:nBw7fRN6Ja
    ** U expects Apple Inc's  AAPL.O  iOS14's privacy
modifications on IDFA (identifier for advertisers) will affect
the way mobile game developers acquire customers, says its
guidance assumes IDFA changes will reduce rev by ~$30 mln, or 3%
of revenue, in 2021
    ** Avg rating among 11 analysts covering U is 'buy' and
median PT is $120, per Refinitiv
    ** With move on Fri, stock has doubled since its Sept 18
first-day close and trading ~160% above IPO price
    

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))
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