The first-quarter report for Unity Software showed that the recent sell-off in the newly public stock was unjustified, according to investment firm Stifel.
Unity released its latest results on Tuesday, showing a smaller-than-expected loss. It also beat revenue projections from FactSet. The quarter also featured the first mobile game from video game publisher King using Unity's 3D technology.
Stifel analyst Tom Roderick upgraded the stock to buy from hold after the earnings report, saying in a note to clients "we've heard and seen enough."