Citizens JMP lowered the firm’s price target on Duolingo (DUOL) to $450 from $475 and keeps an Outperform rating on the shares. Citizens is cautious heading into the Q2 earnings as third party data suggest engagement has slowed since April, with daily active user growth decelerating in April, May, and June to 41% year over year, 40%, and 37%, respectively, down from 53% y/y in March, the analyst tells investors in a research note. The firm believes this is temporary and continues to view Duolingo as an AI winner.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DUOL:
- Becton Dickinson, BNY, Incyte, Duolingo, Jabil: Major Stock Sales Unveiled!
- Senate Claws Back $9 Billion in Aid and Media Spending. Which Stocks Are in the Firing Line?
- JPMorgan cuts Duolingo target, says buy on pullback
- Duolingo price target lowered to $480 from $515 at Morgan Stanley
- Duolingo’s Long-Term Growth Potential Justifies Buy Rating Despite Short-Term Challenges