Duolingo price target raised to $470 from $410 at DA Davidson

DA Davidson raised the firm’s price target on Duolingo (DUOL) to $470 from $410 and keeps a Buy rating on the shares. The company’s results were driven by continued subscriber growth and the strong performance of Duolingo’s higher priced plans like Duolingo Max and the Family plan, the analyst tells investors in a research note. Q2 guidance for 40%-45% daily active user growth was driven by continued product optimization and strength in resurrected users, the firm adds.