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Nov 6, 2025 4:00 PM

Duolingo Posts Q3 Beat But Monetization 'Moved To The Backburner': Analysts

Shares of Duolingo Inc (NASDAQ:DUOL) nosedived in early trading on Tuesday, after the company Wednesday reported mixed third-quarter results.

Here are some key analyst takeaways:

KeyBanc Capital Markets analyst Justin Patterson downgraded the rating from Overweight to Sector Weight.

DA Davidson analyst Wyatt Swanson reiterated a Neutral, while slashing the price target from $300 to $220.

Needham analyst Ryan MacDonald maintained a Buy rating, while cutting the price target from $460 to $300.

Check out other analyst stock ratings.

KeyBanc Capital Markets: Duolingo reported revenues of $272 million and EBITDA of $80 million. That’s higher than Street estimates of $261 million and $73 million, respectively, Patterson said in the downgrade note. Daily active users (DAUs) of 50.5 million were in-line, he added.

The company guided to fourth-quarter bookings ...