- The shares of Duolingo Inc (NASDAQ: DUOL) have received a price target of $195 from Evercore. These are the details.
The shares of Duolingo Inc (NASDAQ: DUOL) have received a price target of $195 from Evercore. And Evercore ISI analyst Mark Mahaney upgraded Duolingo to “Outperform” from “In Line” while increasing the price target from $140.
Mahaney noted that the company reported a clean beat and raise third quarter, citing bookings, revenue, monthly active users, and subscribers being solidly ahead of WallStreet expectations. And the MAU to subscriber conversion continued to improve quarter-over-quarter.
Mahaney also pointed out that there was continued strength in the company’s fundamentals. And new product launches likely next year, the potential for revenue acceleration, and Google and inevitably Apple App Store changes should provide gross margin tailwinds for FY22 and FY23.
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