Duolingo price target lowered to $220 from $300 at DA Davidson

DA Davidson analyst Wyatt Swanson lowered the firm’s price target on Duolingo (DUOL) to $220 from $300 and keeps a Neutral rating on the shares. The company’s Q3 results came out ahead of the firm’s lowered expectations on the top and bottom line, though the main focus on the call revolved around Duolingo’s renewed focus and emphasis that it wants to focus on product-first to continue driving user growth while monetization gets moved to the backburner, the analyst tells investors in a research note.