Wolfe initiates Duolingo with a Peer Perform, says ‘priced to perfection’

Wolfe Research analyst Zach Morrissey initiated coverage of Duolingo with a Peer Perform rating and a $100-$220 fair value range. While the analyst believes there is “a lot to love,” including “secular growth, delivering strong user & engagement growth, and seeing significant margin expansion,” they feel the stock’s valuation is full.