Duolingo Shares Rise 3.8% Following Evercore ISI Upgrade
Duolingo (NASDAQ:DUOL) shares rose by 3.8% in pre-market trading after Evercore ISI upgraded the stock to 'Outperform' from 'In Line.' The upgrade was accompanied by a raised price target of $210, based on a valuation of 20 times estimated 2028 EBITDA and higher earnings forecasts for both 2027 and 2028. These estimates are now significantly above Wall Street consensus. The positive analyst action follows Duolingo's strong second-quarter results, including revenue exceeding expectations at $298.5 million and a 23% year-over-year increase in daily active users to 58.7 million. The company also announced a $400 million share repurchase program. Despite the broader U.S. equity futures trading lower due to geopolitical tensions, rising oil prices, and Fed policy concerns, Duolingo's stock gained traction on positive analyst sentiment.
Tickers: $DUOL
Topics: Duolingo Evercore ISI price target upgrade share price movement