Piper Sandler raised the firm’s price target on Duolingo to $271 from $265 and keeps an Overweight rating on the shares. The firm notes Duolingo’s Q2 bookings of 38% year-over-year growth came in well ahead of consensus driven by 47% increase in subscription bookings. User engagement re-accelerated to 59% DAU growth after taking a breather last quarter. Piper expects that the re-acceleration in DAU growth will assuage investor skepticism on moderating engagement.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DUOL:
- Lockheed Martin upgraded, L3Harris downgraded: Wall Street’s top analyst calls
- Duolingo upgraded to Buy at BofA following 31% pullback
- Duolingo upgraded to Buy from Neutral at BofA
- Duolingo initiated with a Peer Perform at Wolfe Research
- Duolingo to Announce Second Quarter 2024 Results on Wednesday, August 7, 2024