Duolingo price target raised to $400 from $350 at DA Davidson

DA Davidson analyst Wyatt Swanson raised the firm’s price target on Duolingo (DUOL) to $400 from $350 and keeps a Buy rating on the shares. The company’s Q4 results were ahead of expectations on all accounts, and concerns surrounding limited upside in mature markets should largely be put at ease following the print, the analyst tells investors in a research note. The management also indicated that every market that Duolingo operates in is growing and that there are plenty of opportunities to re-engage or find new pockets of users, the firm adds.