Needham raised the firm’s price target on Duolingo to $241 from $210 and keeps a Buy rating on the shares. The company reported a “strong” Q4, with an outsized bookings beat driven by strong adoption of the Family Plan and a New Year’s promotion, the analyst tells investors in a research note. While the management did note that daily active user growth is starting to decelerate into the mid-50s in Q1, its revenue and adjusted EBITDA guidance came in well ahead of consensus expectations, the firm added.
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