Unity price target raised to $50 from $44 at Needham

Needham raised the firm’s price target on Unity to $50 from $44 and keeps a Buy rating on the shares. The company had ” significant outperformance” on adjusted EBITDA, the analyst tells investors in a research note, adding that its Grow and Create segments returned to sequential growth in Q2, the analyst tells investors in a research note. The firm adds however that Unity still has “work to do” as its guidance for the remainder of FY23 implies a significant reacceleration of incremental margins.