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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on DUOL: