The firm noted that updates announced at the event were largely in line with expectations, with key features including Video Call, Duolingo Score, and Duolingo Chess. KeyBanc characterized these updates as "incremental features" rather than "revolutionary changes" to the language learning platform. The research firm viewed improvements to Video Call and the rapid expansion of Duolingo Chess to millions of daily active users (DAUs) as "a solid first step toward improving sentiment." KeyBanc maintained its $460 price target, which represents 38.3 times the company's estimated 2027 enterprise value to EBITDA ratio. In other recent news, Duolingo has been the subject of multiple analyst evaluations and regulatory scrutiny. Citizens JMP has reiterated its Market Outperform rating with a price target of $500, expressing confidence in the company's growth potential despite concerns about slowing user growth.