KeyBanc Capital Markets analyst Justin Patterson reiterated a Sector Weight rating on Duolingo, Inc. (NASDAQ:DUOL), noting the company's shift towards gamification and away from the EdTech business. Duolingo's Daily Active Users (DAUs) are projected to double from 2021 to 2023, reaching 20 million by year-end. Duolingo leads in app downloads over rival language apps like Babbel. The recently launched Duolingo Max, leveraging GPT-4 from OpenAI, is expected to enhance the learning experience and potentially lift 2024 revenue projections by 1% for each 1% of subscribers that adopt it. However, the analyst is cautious about the rollout speed, additional features, and pricing changes of Max.