Unity Software (U) PT Raised to $15 at Macquarie

Macquarie analyst Tim Nollen raised the price target on Unity Software (NYSE: U) to $15.00 (from $12.00) while maintaining a Underperform rating.

The analyst comments "Unity announced plans to cancel its runtime fee, instead instituting price increases for Pro and Enterprise seat licenses in January 2025. • Stability in Create is welcome, but we estimate the price hike only adds ~3% to revs; meanwhile, Grow is facing an investment cycle and no growth. • Reiterate Underperform. We raise our TP 25% to $15, from $12, but still think U is expensive as it trades at twice the EV/EBITDA multiple of APP."

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