Duolingo price target lowered to $300 from $460 at Needham

Needham analyst Ryan MacDonald lowered the firm’s price target on Duolingo (DUOL) to $300 from $460 and keeps a Buy rating on the shares. The positive sentiment from a strong Q3 beat and FY25 guidance raise was more than offset by management’s commentary that they are shifting towards long term investments over near opportunities, the analyst tells investors in a research note. Needham adds however that the sell-off has created a “unique buying opportunity” for Duolingo.