Why Duolingo Stock Is Rising Today
Duolingo Inc (NASDAQ:DUOL) shares are trading higher Thursday after the company was selected to join the S&P MidCap 400.
What Happened: S&P Dow Jones Indices announced late Wednesday that Duolingo will replace Cable One Inc (NYSE:CABO) in the S&P MidCap 400, effective prior to the opening of trading on April 22. Cable One will also replace MDC Holdings Inc in the S&P SmallCap 600.
Duolingo operates a mobile learning platform globally. The company’s flagship Duolingo app has become one of the world’s most popular way to learn languages.
Duolino is due to report first-quarter earnings on after the market close on May 8. Analysts expect the company to report earnings of 27 cents per share and revenue of $165.64 million, according to estimates from Benzinga Pro.
See Also: Will A TikTok Ban Impact Duolingo’s 240M-Plus Likes? Analyst Says ‘No,’ Sees 25% Upside
Is DUOL A Good Stock To Buy?
Wall Street analysts view Duolingo on the whole as a Buy, given the history of coverage over the past three months. Mario Lu from Barclays is the most optimistic, expecting a 40.46% rise in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, Duolingo rose 3.65%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 45.42% over the past year.
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DUOL Price Action: Duolingo shares were up 7.54% at $209.33 at the time of publication, according to Benzinga Pro.
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