JMP Securities analyst Andrew Boone upgraded Duolingo, Inc. (NASDAQ:DUOL) from Market Perform to Market Outperform, with a price forecast of $260.
Specifically, the analyst highlighted that a broader rollout of Max, optimization of subscription tiers and Family Plan, and the launch of a conversational experience are material catalysts that can continue to drive growth.
After rolling out Max to 5%-10% of DAU in April, Duolingo plans to expand Max to more users in the coming months, Boone notes.
Additionally, Duolingo now has a dedicated team focused on improving Family Plan, which can be a meaningful driver of retention.
According to the analyst, with shares down ~21% year to date and ~27% since reporting earnings, valuation is now more reasonable, with …
Full story available on Benzinga.com