Why Unity Software Stock Was Soaring This Week
The up-and-down saga that is Unity Software's (NYSE: U) trajectory over the past few years was far more up than down this week. Although the influential video game engine developer had little news of its own to report, an analyst's new take helped bolster investor sentiment on its business. According to data compiled by S&P Global Market Intelligence, as of early morning Friday Unity stock was up nearly 30% in price week to date.
On Wednesday, white-shoe investment bank Morgan Stanley published a new note on the company authored by Matthew Cost. The pundit reiterated his overweight (read: buy) recommendation on the stock, and his $24-per-share price target.
Cost's latest take on the highly specialized tech company came after a series of investor meetings with CEO Matt Bromberg. According to reports, Bromberg went into some detail about a new advertising model slated to debut in 2025 that will positively affect the company's "grow solutions" business.
Source Fool.com
