Seaport Research initiated coverage of Duolingo with a Buy rating and $222 price target. The firm has positive fundamental view, calling Duolingo the “clear leader in a large language learning market increasingly shifting online” and believes the company can drive 20%-plus long-term revenue growth. The firm also believes Duolingo can generate 35%- plus long-term EBITDA, driven by sales and marketing leverage from its freemium model, the analyst added.
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