Unity Software (U) Jumps 14.3% on Price Target Upgrade

We recently published 10 Stocks Exploding Higher: Bitcoin Miners Dominate the List. Unity Software Inc. (NYSE:U) is one of Wednesday's top performers.

Unity Software saw its share prices jump by 14.31 percent on Wednesday to close at $33.94 apiece as investors took path from an investment firm’s price target upgrade.

In a market note, Jefferies raised its price target for Unity Software Inc. (NYSE:U) to $35 from $29 previously, while maintaining a “buy” recommendation. The new figure marked a 3-percent upside from its latest closing price.

Citing data from the second quarter mobile game ad tech survey, Jefferies said overall 2025 ad spend expectations improved off of April and are now on track for a 4-percent growth year-on-year.

Additionally, Jefferies underscored Unity Software Inc.’s (NYSE:U) return on ad spend for clients improved by 10-20 percent from 5-7 percent in the previous quarter.

Jefferies also posted higher earnings expectations for Unity Software Inc. (NYSE:U) given its industry position and growing market share.

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Disclosure: None. This article is originally published at Insider Monkey.