Duolingo price target raised to $117 from $109 at Raymond James

Raymond James raised the firm’s price target on Duolingo to $117 from $109 and keeps an Outperform rating on the shares. Duolingo reported strong Q4 user metrics and bookings with strong growth in MAUs, DAUs, and paid subscribers, the analyst tells investors in a research note. The firm sees a large learning and language TAM that is increasingly shifting to digital and expects 25%+ long-term revenue growth and 30%-35% EBITDA margins.