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Duolingo price target lowered to $270 from $375 at Citi

Citi lowered the firm’s price target on Duolingo (DUOL) to $270 from $375 and keeps a Buy rating on the shares. The company reported a Q3 beat with “better than feared” guidance, but its shift towards longer-term user growth versus monetization conversion is hurting billings growth, the analyst tells investors in a research note. Citi sees a buying opportunity on the post-earnings selloff, believing Duolingo can execute on its strategy.

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