DA Davidson keeps a Neutral rating and $300 price target on Duolingo (DUOL). The firm’s proprietary data tracking 170K users indicates that the month of September has shown improvements relative to August active users, but the data also implies that daily active user growth is still below consensus and the historic quarterly daily active user gains of 7.2% that Duolingo has posted on average over the past five years, the analyst tells investors in a research note.
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