Unity price target lowered to $12 from $14 at Macquarie

Macquarie lowered the firm’s price target on Unity to $12 from $14 and keeps an Underperform rating on the shares. While Unity saw good ongoing demand trends for its Create segment and its Grow segment grew 1% sequentially the business remains in transition as Unity lowered the midpoint of its FY24 revenue guidance 2% to $1.685B and adjusted EBITDA 18% to $345M, the analyst tells investors.