Duolingo (DUOL) Stock: $119 Target And Overweight Rating

By Amit Chowdhry ● Jul 3, 2022
  • The shares of Duolingo Inc. (NASDAQ: DUOL) have received a $119 price target from Piper Sandler. These are the details.

The shares of Duolingo Inc. (NASDAQ: DUOL) have received a $119 price target from Piper Sandler. And Piper Sandler analyst Arvind Ramnani increased the price target on Duolingo from $95 while maintaining an “Overweight” rating on the shares.

Ramnani adjusted the rating following meetings with management. And Ramnani is optimistic about Duolingo’s product roadmap and the growth runway for the core language learning app. Going forward, Ramnani believes that the company’s product roadmap supports multiple avenues for long-term growth.

Last month, Duolingo reported a Q1 EPS of ($0.31), which was $0.26 higher than analyst estimates of ($0.57). And the revenue for the quarter was $81.2 million compared to the consensus estimate of $77.44 million. In terms of guidance, Duolingo expects Q2 revenue of between $84 and $87 million, compared to the consensus of $81.4 million.

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