Analysts raise UTY target to USD 30, citing improved revenue growth and margin expansion potential in 2024.
BTIG increased its price target for Unity Software (UTY) to USD 30 from USD 25, reflecting confidence in the company’s earnings power. The adjustment follows a review of Unity’s revenue growth trajectory and margin expansion prospects for the coming year.
Prior to the revision, consensus estimates had pegged UTY’s target at USD 24, with last quarter’s earnings missing expectations by 2%. The new target aligns with Unity’s recent cost-cutting measures and a rebound in its gaming and digital advertising segments.
Shares of Unity Software edged up 1.8% in pre-market trading following the announcement, outperforming the broader software sector.