Duolingo Inc (NASDAQ:DUOL) on Tuesday reported better-than-expected financial results for the third quarter.

Duolingo reported third-quarter revenue of $309.01 million, beating analyst estimates of $303.23 million, according to Benzinga Pro. The company reported third-quarter earnings of 54 cents per share, missing estimates of 57 cents per share.

"Our user growth this year in every region of the world and in every subject we teach reinforces our belief that we still have an enormous opportunity ahead of us. Our ambition is to ultimately reach one billion learners and build a much larger business over time," the company said in a letter to shareholders.

Duolingo expects fourth-quarter revenue of $322 million versus estimates of $314.55 million. The company also raised its full-year 2026 guidance from $1.21 billion to approximately $1.22 billion versus estimates of approximately $1.21 billion.

Duolingo shares gained 19.4% to $152.90 in pre-market trading.

These analysts made changes to their price targets on Duolingo following earnings announcement.

• Needham analyst Ryan MacDonald maintained the stock with a Buy and raised the price target from $145 to $165.
• Wells Fargo analyst Alec Brondolo upgraded the stock from Underweight to Equal-Weight and raised the price target from $80 to $120.

Considering buying DUOL stock? Here’s what analysts think:

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