Shares of Duolingo, Inc. (DUOL) are soaring 5.07% in Friday's intraday trading session, demonstrating strong investor confidence despite a slight adjustment in analyst price targets. The surge comes as UBS reaffirms its bullish stance on the language-learning platform.
UBS, a leading financial services firm, has maintained its Buy rating on Duolingo while adjusting its price target from $430 to $400. This adjustment, although slightly lower, still represents significant upside potential from the stock's current trading levels. The sustained positive outlook from UBS appears to be driving investor enthusiasm, contributing to the stock's impressive performance.
Adding to the optimistic sentiment, FactSet's poll of analysts reveals an average rating of overweight for Duolingo, with a mean price target of $384.78. This consensus among analysts underscores the market's confidence in Duolingo's growth prospects and business model. As the company continues to innovate in the edtech space, investors seem eager to capitalize on its potential, driving the stock's upward momentum in today's trading session.
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