Duolingo (NASDAQ: DUOL) shareholders have had a lot to smile about over the past 14 months. Since the end of 2022, the stock has risen a spectacular 233%, which has many investors wondering if it's already too late to buy some shares.

Millions of new active users are flocking to the education app and signing up for paid subscriptions. Growth has been outstanding to date, but the company's stock market valuation means it has to continue growing rapidly or investors who buy at recent prices could suffer heavy losses.

Let's weigh the opportunities in front of Duolingo against some challenges it faces to see if it could be a wise addition to most investors' portfolios.

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Source Fool.com