Upgrade Overview
Duolingo Inc. (NASDAQ:DUOL) saw its share price increase by approximately 7% on Tuesday, 18 August 2026, after DA Davidson analyst Wyatt Swanson upgraded the stock from Neutral to Buy and raised the price target to $160. Swanson stated that the market is undervaluing the company’s ongoing product development, recent marketing adjustments, and efforts to refine its core monetization engine, and that there is a long runway for growth. The analyst highlighted expectations that daily active users (DAUs) will continue to accelerate and that bookings are likely to converge with DAU growth, suggesting a turning point for the business. The upgrade note specifically pointed to potential continued acceleration in DAU metrics and alignment between user growth and booking revenue as key growth drivers.