Duolingo price target lowered to $205 from $220 at DA Davidson

DA Davidson lowered the firm’s price target on Duolingo (DUOL) to $205 from $220 and keeps a Neutral rating on the shares. The firm’s data tracking about 170K existing users indicate that October and November showed sequential improvements relative to Q3 active users, while its tracking of Chess.com users doesn’t show any inflection in user growth over the past few months despite Duolingo’s move into chess, the analyst tells investors in a research note. DA Davidson still contends that Duolingo’s best option is to acquire, or at least partner with Chess.com, to better retain chess users.