Shares of Duolingo, Inc. (DUOL) are soaring 5.07% in intraday trading on Friday, as investors react positively to analyst ratings and price target updates. The language-learning platform's stock is gaining momentum despite a slight downward adjustment in one firm's price target.
UBS reiterated its Buy rating on Duolingo, although it adjusted its price target to $400 from $430. This move, while representing a slight reduction, still signals strong confidence in the company's future performance. The maintained Buy rating suggests that UBS analysts believe Duolingo's stock has potential for significant appreciation.
Adding to the bullish sentiment, a broader look at analyst opinions reveals an average rating of overweight for Duolingo, with a mean price target of $384.78, according to data from FactSet. This collective optimism from Wall Street appears to be fueling investor confidence, driving the stock's impressive intraday gains. As Duolingo continues to innovate in the edtech space, investors seem eager to bet on its growth prospects, despite the recent volatility in tech stocks.
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