Shares of Duolingo (DUOL) dipped in early trading on Monday despite the company’s strong growth prospects. Analyst Andrew Boone of JMP Securities downgraded the rating for Duolingo from Market Outperform to Market Perform, citing the stock’s already high valuation reflecting future growth initiatives. Boone remains positive about Duolingo’s execution and product roadmap, highlighting the potential of new features like video calls and AI-powered conversational learning.