BofA lowered the firm’s price target on Duolingo (DUOL) to $301 from $370 and keeps a Neutral rating on the shares as “soft” Q4 bookings and EBITDA guidance overshadow a “solid beat” on bookings and gross margin leverage in Q3. The firm views Duolingo’s shift toward prioritizing long-term user growth as a positive strategic move, but notes it may weigh on monetization and pressure near-term bookings.
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Read More on DUOL:
- Duolingo’s User Growth Drives Buy Rating Despite Monetization Concerns
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