Duolingo price target raised to $127 from $95 at Piper Sandler

Piper Sandler analyst Arvind Ramnani raised the firm’s price target on Duolingo to $127 from $95 and keeps an Overweight rating on the shares. The company’s Q4 upside was driven by accelerating user growth and an increase in percentage of paid users, the analyst tells investors in a research note. The firm is also encouraged with family subscribers making up 12% of total subs.