Duolingo downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs analyst Eric Sheridan downgraded Duolingo to Sell from Neutral with an unchanged price target of $160. The analyst sees artificial intelligence being a potential headwind in the coming years given the company’s “weaker platform moat and adverse shifts in consumer/enterprise spending trends.” The Sell rating reflects the current risk/reward skew on the shares after the 219% rally in 2023, the analyst tells investors in a research note.