Duolingo price target lowered to $230 from $243 at Barclays

Barclays analyst Ross Sandler lowered the firm’s price target on Duolingo to $230 from $243 and keeps an Equal Weight rating on the shares post the Q1 report. Duolingo “feels like its going into a new era” in 2024 whereby growth rates come back down to Earth after years of outperforming and the valuation comes under a bit more scrutiny than in the past, the analyst tells investors in a research note. The firm says that while the company’s 30% growth is “still incredible relative to the peers,” the company is “clearly moving past the hyper-growth stage.”