On August 7, Unity Software Inc. rose 6.44% in regular trading, trading at $43.005 per share, with turnover of $164 million.

On the news front, the company reported Q2 results that significantly exceeded expectations, prompting multiple Wall Street banks to upgrade ratings and raise price targets. Q2 revenue reached $546.5 million, well above the consensus estimate of $514.6 million. Adjusted EPS came in at $0.28, dramatically beating the expected loss of $0.09 per share, representing a 55.56% increase over $0.18 in the year-ago quarter.

The company also issued strong Q3 guidance, projecting strategic revenue of $540 million to $550 million, implying 44% to 47% year-over-year growth. Morgan Stanley raised its price target from $35 to $50 while maintaining an Overweight rating. Bank of America Global Research upgraded the stock from Neutral to Buy, lifting its target from $30 to $50.

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