Duolingo Inc. shares climbed 3.5% in pre-market trading after DA Davidson upgraded the stock to Buy from Neutral and set a $160 price target, while Citi raised its target to $140 from $101.
The language-learning platform’s prior close stood at $130.16, well below its 52-week high of $368.39. The upgrades follow Duolingo’s disclosure of acquiring Animade, a London-based animation studio, to expand its in-house motion design capabilities.
In its Q2 2026 earnings report, Duolingo reported 23% growth in Daily Active Users, though it provided softer-than-expected near-term revenue guidance. The broader market showed declines, with the Nasdaq down 1.2% and the S&P 500 off 0.5%.
