Evercore ISI on Duolingo Inc. (DUOL): 'continuing to materially innovate and successfully improve upon its product offerings'

Evercore ISI analyst Mark Mahaney reiterated an Outperform rating and $540.00 price target on Duolingo Inc. (NASDAQ: DUOL).

The analyst comments "Duolingo hosted its 7th annual DuoCon virtual product event on September 16th. For us, the biggest takeaways were the updates to Videocall with Lily, the behind the scenes look at the company’s A/B testing, and a run-down on the new Chess subject launched in April. The stock so-what here is that we see DUOL continuing to materially innovate and successfully improve upon its product offerings. And this consistent and substantial product innovation, likely more than anything else, is what is going to drive fundamentals and the stock price higher. Reiterate Outperform."

For an analyst ratings summary and ratings history on Duolingo Inc. click here. For more ratings news on Duolingo Inc. click here.

Shares of Duolingo Inc. closed at $280.74 yesterday.

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