Why Unity Software Stock Suddenly Popped Today [Yahoo! Finance]
Unity Software Inc. (U)
Company Research
Source: Yahoo! Finance
As of 2:30 p.m. ET, Unity stock was up about 12%. Unity waves the white flag on runtime fees Many of Unity's customers use its software to create mobile games and monetize them. And the company has long sold its software as a subscription, charging different prices depending on whether certain thresholds were reached. But last year, then CEO John Riccitiello introduced a "runtime fee" that would charge its customers every time a game was downloaded. It was a disastrous move that ultimately led to Unity looking for a new CEO. Today, Unity's new CEO, Matt Bromberg, announced it's canceling the runtime fee altogether. Bromberg admitted that prices do need to come up but, "Increases needn't come in a novel and controversial new form." Considering the runtime fee was so widely criticized, investors are celebrating the move to get rid of it. Is this a good thing? Unity wasn't kidding when it mentioned raising prices. There are too many details to address everything here. But the
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U
News
- Unity Software Inc. (NYSE: U) had its price target raised by analysts at Macquarie from $12.00 to $15.00. They now have an "underperform" rating on the stock.MarketBeat
- Unity Software Inc. (NYSE: U) had its price target raised by analysts at Wedbush from $21.00 to $27.00. They now have an "outperform" rating on the stock.MarketBeat
- Unity Software Inc. (NYSE: U) had its "market perform" rating re-affirmed by analysts at JMP Securities.MarketBeat
- Unity Software Inc. (NYSE: U) had its price target raised by analysts at Stifel Nicolaus from $20.00 to $25.00. They now have a "buy" rating on the stock.MarketBeat
- Here's Why Unity Software (U) Stock Hit All-Time Lows [Yahoo! Finance]Yahoo! Finance
U
Earnings
- 8/8/24 - Beat
U
Sec Filings
- 9/18/24 - Form 4
- 9/18/24 - Form 144
- 9/13/24 - Form 4
- U's page on the SEC website