UBS initiated coverage on DUOL with a "buy" rating
Duolingo Inc (NASDAQ:DUOL) stock is enjoying a boost today, after UBS initiated coverage with a "buy" rating. The firm said the language learning name has a "best-in-class brand within the language learning space, which is still early in its online penetration ramp." At last glance, DUOL was up 2.8% at $158.60.
The stock ran up to the $168 region this month, home to its June 3, 19-month high of $168.39, before its most recent dip. The pullback was captured by its 50-day moving average, however, as well as the $150 level -- a familiar layer of both support and resistance this year. Since the start of the year, Duolingo stock is up 122.5%.
Of the 11 analysts in coverage, five carry a "buy" or better rating, with six a tepid "hold," while the 12-month consensus price target of $156.67 sits at a slim 4.4% premium to current levels.Short interest represents 6.4% of the stock's available float.