BofA raised the firm’s price target on Duolingo (DUOL) to $355 from $325 and keeps a Buy rating on the shares after the company reported Q3 revenue and EBITDA ahead of Street estimates despite tougher comps. The firm slightly raised its Q4 and FY24 estimates on the better Q4 outlook and sees more room for user expansion, as well as “multiple levers to play,” the analyst tells investors.
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Read More on DUOL:
- Duolingo downgraded to Neutral at Seaport Research on valuation
- Duolingo downgraded to Neutral from Buy at Seaport Research
- Duolingo price target raised to $360 from $303 at JPMorgan
- Duolingo raises FY24 revenue view to $741M-$744M from $731.3M-$738.3M
- Duolingo sees Q4 revenue $202.5M-$205.5M, consensus $217.08M