Duolingo falls as Wells Fargo warns of softer engagement, trims PT

Shares of language learning platform Duolingo DUOL.O down 2.38% to $172.11

Wells Fargo cuts PT on DUOL to $160 from $185, which is still a 9.2% upside to stock's last close

Brokerage says after several years of torrid growth, we believe public sentiment on the DUOL brand is waning, leading to reduced engagement with its social media content, a key vector for growth

We see evidence users are pushing back on tactics to increase paid user conversion, brokerage says

13 of 24 brokerages rate the stock "buy" or "higher", 10 "hold" and 1 "sell"; their median PT is $292.50

Including session's move, DUOL down 46.7% in the last 12 months