Duolingo falls as Argus cuts to 'hold'

Language learning platform Duolingo's DUOL.O shares fall 4.1% to $100.05 premarket

Argus Research downgrades to "hold" from "buy"

Brokerage says co's new strategy of prioritizing Daily Active User growth is "likely to pressure bookings and limit revenue growth in the near-term"

"We expect growth in DAUs to continue as this innovative company expands beyond language learning into areas such as chess, math, and music courses" - Argus Research

Avg. rating of 25 analysts is "hold;" their median PT is $107.50 - data compiled by LSEG

Up to last close, stock has fallen 40.5% this year