Shares of Duolingo, Inc. (DUOL) plummeted 5.24% in Monday's intraday trading session, following a price target reduction by analysts at Citizens JMP. The significant drop highlights investors' sensitivity to changes in analyst outlooks for the language-learning technology company.

Citizens JMP lowered its price target on Duolingo from $475 to $450, while maintaining an Outperform rating on the stock. This adjustment in the price target, despite the retained positive outlook, appears to have triggered a sell-off among investors. The reasons behind the lowered price target were not explicitly stated in the available information, but it suggests a slight moderation in the firm's expectations for Duolingo's near-term performance.

Despite the reduced price target, it's worth noting that Citizens JMP still maintains an Outperform rating on Duolingo shares. This indicates that while the firm has slightly tempered its price expectations, it continues to view the company's overall prospects positively. Investors and market watchers will likely be keen to see if other analysts follow suit or if this adjustment is an isolated event in the broader analyst community's view of Duolingo.