On August 4, Unity Software Inc. rose 5.15% in regular trading, trading at $35.19/share, with turnover of $124 million. The rally was driven by multiple analyst target price upgrades ahead of the company's Q2 earnings release scheduled for August 6.

On the news front, UBS raised its target price on Unity Software Inc. from $28 to $32 while maintaining a Neutral rating, following Wedbush's earlier upgrade from $32 to $36 with an Outperform rating. Analysts polled by FactSet assign an average Overweight rating with a mean target price of $36.77, significantly above the current trading level. Wedbush expects Q2 results to be largely in line with estimates, with consensus projecting revenue of $515 million, up 20.58% year-over-year.

The positive sentiment is further supported by the company's previous quarter results and Q2 guidance both exceeding expectations, continued progress on its AI advertising platform Vector, and the renewal of its VR partnership with Meta.

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