BUZZ-Duolingo gains as Keybanc upgrades stock on revenue, profitability growth

Reuters
08/18
BUZZ-<a href="https://laohu8.com/S/DUOL">Duolingo</a> gains as Keybanc upgrades stock on revenue, profitability growth

** Shares of language learning platform Duolingo DUOL.O up 2.8% at $336 premarket

** Keybanc Capital Markets upgrades stock to "overweight" from "sector weight", sets price target of $460

** PT represents upside of 41% to stock's Friday's close

** "As user growth persists and subscriber conversion ramps, we believe Duolingo is poised to drive ~30% annual revenue growth and 44% annual EBITDA growth between 2024 and 2027," says Keybanc Capital Markets

** Brokerage says argument is that there are multiple drivers ahead and AI innovations are more likely to help than hurt monetization

** Twenty-four analysts on average rate the stock "Buy"; median PT stands at $492.13 - data compiled by LSEG

** Up to last close, stock had risen 1% this year

Duolingo's paid user base grows steadily https://reut.rs/4m5zjb5

(Reporting by Akash Sriram in Bengaluru)

((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))

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