Unity Software Inc. (U) shares soared 6.38% in pre-market trading on Tuesday, despite a recent target price cut by Wells Fargo. The stock's impressive jump appears to be fueled by a strong buy rating and positive growth outlook from analysts.

According to recent reports, Unity Software currently sports a Zacks Rank #1 (Strong Buy), indicating high confidence in the company's near-term performance. This ranking, coupled with Unity's long-term earnings growth rate projection of 5.7%, seems to have overshadowed the negative sentiment from Wells Fargo's target price reduction.

While Unity's stock has faced challenges in recent months, losing 18.2% over the past six months, today's pre-market surge suggests that investors are focusing on the company's potential for future growth. The strong buy rating and positive long-term outlook appear to be driving renewed interest in the stock, despite short-term headwinds in the tech sector.