Duolingo price target raised to $515 from $435 at Morgan Stanley

Morgan Stanley analyst Nathan Feather raised the firm’s price target on Duolingo (DUOL) to $515 from $435 and keeps an Overweight rating on the shares. Q1 results surpassed elevated expectations with “record” net adds, “sizeable beats across the board,” and a fifteenth consecutive quarter of raising/beating fiscal year guidance, notes the analyst, who calls out Duolingo “materially outperforming” across its three core upside levers of users, monetization and margin.