Duolingo Beats, Raises Outlook—But Stock Drops as Investors Want More

Shares of language app Duolingo Inc (NASDAQ: DUOL ) tanked in early trading on Thursday, even after the company reported upbeat second-quarter (Q2) results. Here are the key analyst takeaways: DA Davidson analyst Wyatt Swanson reiterated a Neutral, while raising the price target from $120 to $130. Needham analyst Ryan MacDonald maintained a Buy rating and price target of $145. Check out other analyst stock ratings. DA Davidson: Duolingo reported solid results for the Q2, with DAU (daily active user) growth and bookings coming in ahead of consensus estimates, Swanson said in a note. He highlighted the following from the release: Bookings growth of 7.9% year-on-year topped consensus of 6.5% Revenue growth of 18.3% year-on-year came in higher than consensus of 17.3% Although adjusted EBITDA of $77.3 million represented a year-on-year contraction, the figure was higher than expectations o...