KeyBanc Downgrades Duolingo Inc. (DUOL) to Sector Weight

KeyBanc analyst Justin Patterson downgraded Duolingo Inc. (NASDAQ: DUOL) from Overweight to Sector Weight.

The analyst comments "We are downgrading DUOL from Overweight to Sector Weight following shares exceeding our PT. In our view, the shares now appropriately reflect the product cycle (DUOL trades 9.9x 2023E EV/S, nearly 2.5x peers). Given headwinds from inflation and signs of softness in other freemium apps, we believe multiple expansion and material revisions are less likely over the coming quarters. As such, we view risk/reward as balanced."

For an analyst ratings summary and ratings history on Duolingo Inc. click here. For more ratings news on Duolingo Inc. click here.

Shares of Duolingo Inc. closed at $110.09 yesterday.

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