Unity price target lowered to $61 from $66 at Credit Suisse

Credit Suisse analyst Stephen Ju lowered the firm’s price target on Unity to $61 from $66 and keeps an Outperform rating on the shares following quarterly results. Unity beat and raised, with the outperformance mirroring Q1 with Grow exceeding CSe despite a shortfall in Create, due to its ongoing effort to deprioritize away from professional services and focus on its higher margin/ongoing subscription services, which accelerated to grow 22% year-over-year, the firm notes.