Why Unity Software Stock Soared on Wednesday
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Unity Software's stock surged 12.7% after Jefferies analyst Brent Thill raised its price target by over 20% to $35, maintaining a buy recommendation. Thill noted improved ad spend expectations for 2025, with Unity's market share growing positively. Despite being unprofitable by GAAP standards, Unity generated $308 million in free cash flow over the last year, leading to a 45x price-to-free-cash-flow valuation. Analysts predict Unity's free cash flow could triple to nearly $1 billion by 2030, but a 26% annualized growth rate raises concerns about the stock's high valuation.
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