Unity price target lowered to $32 from $46 at UBS

UBS analyst Stephen Ju lowered the firm’s price target on Unity (U) to $32 from $46 and keeps a Neutral rating on the shares. The Q4 budget exceeded expectations as AppLovin (APP) benefited from strong ROAS from Axon 2.0, growing non-endemic e-commerce spend, and increasing advertiser adoption, driving bullish sentiment for 2026, while Unity showed more limited progress, the analyst tells investors in a research note. However, competitive risks are rising, including Meta’s (META) renewed push into gaming ads and longer-term disruption from Google’s (GOOGL) Project Genie, which could pressure budgets and sector multiples, UBS says.

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