1345 ET - Shares of Duolingo look fairly valued after hitting an all-time high on the back of a strong 3Q, Seaport Research Partners analyst Aaron Kessler says in a research note. The stock is trading at the high end of Kessler's valuation range on a premium multiple that looks warranted, though "risk reward is now more balanced," he says. The analyst downgrades the stock to a neutral rating, but still believes the company has strong fundamentals. Duolingo is the clear online leader in large language learnings, with long-term revenue growth forecast at 20% or higher, he says. Shares slide 2.2% to $311.90 after hitting an all-time high of $324 earlier in the trading day. (dean.seal@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 13:45 ET (18:45 GMT)
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