Duolingo gains after D.A. Davidson upgrades rating, hikes price target
DUOL•Duolingo shares rise after analyst upgrade
Language-learning platform Duolingo's DUOL.O shares gained 3% to $134.13 in premarket trading after D.A. Davidson upgraded the rating to buy from neutral and raised its price target to $160, which represents a 22.9% upside to the stock's last close.
The firm said Duolingo's product enhancements, marketing changes and continued monetization improvements are "underappreciated by investors" and also sees a "long runway for growth in coming years."
Four of 25 brokerages rate the stock buy or higher, 19 rate it hold and two rate it sell; their median price target is $122.50, according to LSEG-compiled data. Up to the previous day's close, the stock was down 25.8% year to date.
