Duolingo price target raised to $267 from $241 at Needham

Needham raised the firm’s price target on Duolingo to $267 from $241 and keeps a Buy rating on the shares. The company reported a Q1 earnings beat and raise, and while the stock is down on daily active user growth decelerating below 60%, it still posted a robust 54.7% Y/Y growth, the analyst tells investors in a research note. Duolingo’s Q1 update resembled a high performing business, and Needham contends that the shares are oversold.