Piper Sandler analyst Arvind Ramnani lowered the firm’s price target on Duolingo to $95 from $119 and keeps an Overweight rating on the shares after meeting with management. The conversations centered around broader pricing and monetization dynamics, pressured average revenue per user trends, and thoughts on Duolingo’s new math app, Ramnani tells investors in a research note. The analyst says the core language business remains central to the investment thesis and the company’s primary monetization opportunity, while math is more of a medium to long-term opportunity.
Published first on TheFly
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