多邻国盘前狂跌25%，有机构将目标价砍剩1/3

Core Viewpoint - Duolingo's stock price dropped approximately 25% in pre-market trading due to slowing daily active user growth and first-quarter earnings guidance that fell below market expectations [1][2]. Financial Performance - In Q4, Duolingo reported a revenue increase of 35% year-over-year, reaching $282.9 million, with adjusted EBITDA of $84.3 million, both exceeding market expectations [2][3]. - Daily active users grew by 30% year-over-year to 52.7 million, marking the slowest growth rate in four years [3]. Future Outlook - For Q1, Duolingo expects revenue of $288.5 million and adjusted EBITDA of approximately $73.6 million, both lower than market expectations of $291.8 million and $84 million, respectively [3]. - The company plans to increase investments in artificial intelligence to drive subscriber growth, which may lead to a slowdown in short-term profit growth and margins [3]. Analyst Reactions - Following the earnings report, several institutions significantly downgraded Duolingo's ratings and target prices. For instance, Canadian Imperial Bank of Commerce downgraded the rating from "Outperform" to "Market Perform" and cut the target price from $300 to $100 [3]. - Morgan Stanley reduced its target price from $245 to $100, while JPMorgan downgraded the rating from Neutral to Underweight and lowered the target price from $200 to $95 [3].