Down 29%, Is Duolingo a Buy on the Dip?
After tumbling from a peak it set in May, shares of Duolingo (NASDAQ: DUOL) recently received a positive bump from a Wall Street investment bank that follows its business closely.
Duolingo stock popped about 4% higher when the market opened on Friday, July 26. Investors were responding to encouraging words from Bank of America analyst Curtis Nagle. Citing a 31% price drop following the company's first-quarter earnings report in May, Nagle upgraded the stock from a neutral to a buy rating.
Nagle also maintained Bank of America's $245-per-share price target on Duolingo stock. This target is significantly lower than several other investment banks but it still implies a gain of about 40% from recent prices.
Source Fool.com
