Duolingo price target raised to $385 from $370 at Needham

Needham raised the firm’s price target on Duolingo (DUOL) to $385 from $370 and keeps a Buy rating on the shares after visiting its New York office. The company enters its next phase of growth that will be fueled by bringing new English learners to the platform with innovative GenAI-powered functionality, the analyst tells investors in a research note. While GenAI has thus far been viewed as a disruptor to the education ecosystem, Duolingo is now starting to harness the technology for a monetizable use case that the firm believes will be a “powerful tool in expanding their reach”, the firm adds.

Pick the best stocks and maximize your portfolio:

• Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
• Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See today’s best-performing stocks on TipRanks >>

Read More on DUOL:

• Duolingo price target raised to $400 from $360 at JPMorgan
• Duolingo price target raised to $400 from $36 at JPMorgan
• Reddit initiated, GE Vernova downgraded: Wall Street’s top analyst calls
• Duolingo downgraded to Neutral at BofA at ‘peak valuation’
• Duolingo downgraded to Neutral from Buy at BofA