Unity price target lowered to $28 from $35 at Stifel

Stifel analyst J. Parker Lane lowered the firm’s price target on Unity (U) to $28 from $35 and keeps a Buy rating on the shares. The firm had expected commentary around the rollout of Vector to be the most important factor of the call, but “another measured guide seemed to be an overhang on an otherwise solid call/print,” the analyst tells investors. While the firm believes the negative reaction to the print was primarily driven by “likely conservative” Q2 guidance and some moving parts in the growth algorithm over the remainder of the year, it is “optimistic” the company can drive better performance in the base and recapture share of the mobile ads market with Vector now in market, the analyst added.