On September 12, Unity Software Inc. rose 5.04% in regular trading, trading at $44.21/share, with turnover of $253 million. The stock continued to gain as market sentiment remained buoyed by a strong Q2 earnings beat and a wave of investment bank upgrades.

Unity reported Q2 revenue of $546.5 million, significantly exceeding the consensus estimate of $514.7 million, while adjusted EPS of $0.28 topped the $0.25 forecast. The company guided Q3 strategic revenue of $540–$550 million, implying 44%–47% year-over-year growth. Following the results, BofA upgraded Unity from Neutral to Buy and raised its target price from $30 to $50, citing the advertising business's blowout quarter as an inflection point. Morgan Stanley simultaneously lifted its target to $50 from $35, maintaining an Overweight rating. BofA highlighted that Unity's Vector growth runway is sustainable through year-end, with runtime data effectively enhancing ad targeting model efficacy, positioning Unity along a trajectory similar to AppLovin as a scaled mobile gaming user acquisition channel. The current share price remains below the $50 consensus target from major banks, supporting continued bullish sentiment.

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