Goldman Sachs has decided to maintain its Neutral rating of Duolingo (NASDAQ:DUOL) and lower its price target from $106.00 to $84.00.
Shares of Duolingo are trading down 3.32% over the last 24 hours, at $92.96 per share.
A move to $84.00 would account for a 9.64% decline from the current share price.
Duolingo Inc is a mobile learning platform to learn languages and the top-grossing app in the Education category on both Google Play and the Apple App Store. It has three predominant sources of revenue; time-based subscriptions, in-app advertising placement by third parties, and the Duolingo English Test.
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