Shares of language learning app Duolingo, Inc. (DUOL) plummeted 5.39% on Wednesday, following a downgrade by BofA Securities analyst Curtis Nagle from Buy to Neutral. Nagle maintained a price target of $375 on the stock.
The downgrade comes amid an average Overweight rating for DUOL among analysts, with a mean price target of $354.82 according to FactSet data.
The stock's decline occurred during Wednesday's trading session, suggesting the downgrade from the influential Wall Street firm weighed on investor sentiment toward the education technology company.
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