Scotiabank lowered the firm’s price target on Duolingo (DUOL) to $300 from $600 and keeps an Outperform rating on the shares. The company posted another “high-quality quarter,” extending its streak of “operational excellence,” the analyst tells investors. As management slows marketing experiments and shifts to long-term product development, the firm believes this may suggest the ceiling for near-term user scale may be lower than previously assumed.
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