Unity CTO departure just ‘a speed bump,’ says Jefferies

Jefferies analyst Brent Thill notes that Unity’s (U) CTO, who was focused on Create, is leaving for personal reasons unrelated to the business, adding that his conversation with management leads the firm to believe there will be no impact to the ads side, where momentum is building under the leadership of Felix The, who is leading Vector. Management is confident in the product roadmap and will backfill the CTO role over time, notes the analyst, who continues to believe the company is headed in the right direction and calls the CTO news “a speed bump not a hump.” Jefferies has a Buy rating and $29 price target on Unity shares.