1 Wall Street Analyst Thinks Unity Software Stock Is Going to $20. Is It a Sell?
Video gaming engine developer Unity Software's (NYSE: U) 2024 isn't developing so nicely. On the back of a disastrous change in its pricing regime and the subsequent resignation of its CEO last year, the company announced it was laying off roughly one-quarter of its workforce.
So it's hardly surprising that at least one analyst has become notably more pessimistic on the company's future.
That analyst is Macquarie's Tim Nollen, who last week downgraded Unity's stock to "underperform" -- "sell," in other words -- from his previous "neutral" rating. Now, Nollen believes the shares are only worth $20 apiece, well down from their latest closing price of $32.
Source Fool.com
