Stock Track | Duolingo Soars 10% as New AI Features and Upbeat Outlook Fuel Optimism

Stock Track09-26 07:08

Shares of Duolingo, Inc. (DUOL) surged over 10% on Tuesday, propelled by enthusiasm over the language learning app's latest artificial intelligence (AI) features and analysts' optimistic projections for the company's growth and profitability.

At the heart of the rally was Duolingo's unveiling of its new Video Call feature, which allows users to engage in AI-powered conversations with the Duolingo character Lily, simulating natural dialogue. This innovation, showcased at the company's Duocon event, represents Duolingo's first step toward a more conversational learning experience, a move that analysts at JMP Securities believe will accelerate learning for intermediate speakers and unlock a larger market of advanced learners.

Bolstering the bullish sentiment, several Wall Street analysts reiterated their "Buy" ratings on Duolingo's stock, citing the company's innovative AI capabilities and strategic initiatives as catalysts for future growth and profitability. Evercore ISI analyst Mark Mahaney raised his price target on Duolingo to $335, while J.P. Morgan's Bryan Smilek and Bank of America's Curtis Nagle reinforced their positive outlooks, highlighting the company's potential for increased monetization and expanded offerings.

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