DUOL

Duolingo Inc

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390.840

+47.23(13.745%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

468.000

Open

446.000

VWAP

437.68

Vol

8.18M

Mkt Cap

17.77B

Low

378.0001

Amount

3.58B

EV/EBITDA(TTM)

146.74

Total Shares

43.12M

14.52B

EV/OCF(TTM)

43.23

P/S(TTM)

18.59

Duolingo, Inc. is a technology company. The Company is engaged in offering a mobile learning platform, as well as a digital English language proficiency assessment exam. It operates a freemium business model, namely, the app and the Website are accessible free of charge, although Duolingo also offers premium services for a subscription fee. Its solutions consist of the Duolingo App, Super Duolingo, Duolingo Max, Duolingo English Test: AI-Driven Language Assessment, Duolingo for Schools, and Duolingo ABC. The Duolingo App offers courses in over 40 different languages, including Spanish, English, French, German, Italian, Portuguese, Japanese and Chinese. Duolingo can also be accessed on desktop computers via a Web browser. Its subscription offering, Super Duolingo, offers learners additional features to enhance their learning experience. The Duolingo English Test is an online, on-demand, high-stakes English proficiency assessment. It also operates an animation and motion design studio.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q4

FY2025Q3

FY2025Q2

271.72M

+29.67%

253.34M

+31.54%

240.78M

+35.02%

Estimates Revision

The market is revising Downward the revenue expectations for Duolingo, Inc. (DUOL) for FY2025, with the revenue forecasts being adjusted by -0.06% over the past three months. During the same period, the stock price has changed by -21.13%.

Revenue Estimates for FY2025

Revise Downward

-0.06%

In Past 3 Month

Stock Price

Go Down

-21.13%

In Past 3 Month

15 Analyst Rating

26.76% Upside

Wall Street analysts forecast DUOL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DUOL is 495.42 USD with a low forecast of 375.00 USD and a high forecast of 600.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

11 Buy

4 Hold

0 Sell

Moderate Buy

26.76% Upside

Current: 390.840

Low

375.00

Averages

495.42

High

600.00

26.76% Upside

Current: 390.840

Low

375.00

Averages

495.42

High

600.00

Citizens JMP

Outperform

maintain

$475 -> $450

2025-07-28

Reason

Citizens JMP

Price Target

$475 -> $450

2025-07-28

maintain

Outperform

Reason

Citizens JMP lowered the firm's price target on Duolingo to $450 from $475 and keeps an Outperform rating on the shares. Citizens is cautious heading into the Q2 earnings as third party data suggest engagement has slowed since April, with daily active user growth decelerating in April, May, and June to 41% year over year, 40%, and 37%, respectively, down from 53% y/y in March, the analyst tells investors in a research note. The firm believes this is temporary and continues to view Duolingo as an AI winner.

JPMorgan

Bryan Smilek

Overweight

downgrade

$580 -> $500

2025-07-17

Reason

JPMorgan

Bryan Smilek

Price Target

$580 -> $500

2025-07-17

downgrade

Overweight

Reason

JPMorgan analyst Bryan Smilek lowered the firm's price target on Duolingo to $500 from $580 and keeps an Overweight rating on the shares as part of a Q2 earnings preview. The firm says the stock remains "controversial" with cautious investor sentiment heading into the Q2 report. The stock is down 30% since the highs on May 14 by due to concerns around third party data that has suggested greater than expected user growth deceleration, slowing subscription bookings growth and an uptick in Max churn, the analyst tells investors in a research note. JPMorgan, however, remains positive on Duolingo's "secular leadership position." It recommends buying the stock on the selloff.

Morgan Stanley

Overweight

downgrade

$515 -> $480

2025-07-08

Reason

Morgan Stanley

Price Target

$515 -> $480

2025-07-08

downgrade

Overweight

Reason

Morgan Stanley lowered the firm's price target on Duolingo to $480 from $515 and keeps an Overweight rating on the shares. Alternative data suggests Duolingo's user trends recently weakened, with daily active user growth decelerating to 39% year-over-year in Q2 a from 51% rate seen in Q1 following social media pushback in the U.S. to the company's "AI-First" memo, the analyst tells investors. Although weak Q2 user trends "may be a tactical negative," the firm remains optimistic on the long-term story as it believes user pushback is likely to be temporary with some signs already pointing to normalization, the analyst added.

Argus

NULL -> Buy

initiated

$575

2025-06-25

Reason

Argus

Price Target

$575

2025-06-25

initiated

NULL -> Buy

Reason

Argus initiated coverage of Duolingo with a Buy rating and $575 price target.

Argus

initiated

$575

2025-06-25

Reason

Argus

Price Target

$575

2025-06-25

initiated

Reason

As previously reported, Argus initiated coverage of Duolingo with a Buy rating and $575 price target. The firm is positive on the company's "impressive" record of growth and profitability while noting that its recent results are "trending positively", the analyst tells investors in a research note. Argus adds that it expects growth in the company's daily average users to continue as Duolingo expands beyond language learning into areas like chess, math, and music.

DA Davidson

Wyatt Swanson

Buy

downgrade

$600 -> $500

2025-06-25

Reason

DA Davidson

Wyatt Swanson

Price Target

$600 -> $500

2025-06-25

downgrade

Buy

Reason

DA Davidson analyst Wyatt Swanson lowered the firm's price target on Duolingo to $500 from $600 but keeps a Buy rating on the shares. The firm cites its proprietary analysis of tracking Duolingo course enrollments which indicates that while enrollment data is accelerating in the month of June, the expected Q2 daily active user - DAU - growth beat of 170 bps is a contraction relative to the Q1 DAU growth beat of 350 bps, the analyst tells investors in a research note. The firm adds however that the backlash on social media is a temporary Q2 headwind for Duolingo that will not continue into the second half.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Duolingo Inc (DUOL.O) is 103.84, compared to its 5-year average forward P/E of 5.29. For a more detailed relative valuation and DCF analysis to assess Duolingo Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

N/A

5Y Average PE

5.29

Current PE

103.84

Overvalued PE

248.40

Undervalued PE

-237.82

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

124.39

Current EV/EBITDA

47.07

Overvalued EV/EBITDA

475.32

Undervalued EV/EBITDA

-226.55

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Fair

5Y Average PS

12.20

Current PS

14.59

Overvalued PS

16.28

Undervalued PS

8.13