DA Davidson raised the firm’s price target on Duolingo (DUOL) to $470 from $410 and keeps a Buy rating on the shares. The company’s results were driven by continued subscriber growth and the strong performance of Duolingo’s higher priced plans like Duolingo Max and the Family plan, the analyst tells investors in a research note. Q2 guidance for 40%-45% daily active user growth was driven by continued product optimization and strength in resurrected users, the firm adds.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DUOL:
- Duolingo price target raised to $500 from $360 at JPMorgan
- Duolingo price target raised to $500 from $400 at UBS
- Duolingo price target raised to $465 from $390 at Piper Sandler
- Duolingo’s Strong Market Position and Growth Potential Drive Buy Rating
- Duolingo price target raised to $375 from $330 at Barclays
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue