Duolingo stock predicted to rise 36% soon

JMP has upgraded Duolingo's stock rating, predicting significant growth. The investment firm believes the language education app could attract billions of users globally. They have set a price target of $400 for Duolingo shares. Currently, Duolingo's stock is trading at about $294.18. This new target suggests a possible increase of 36%. Over the past year, the stock has risen by 36%, but it has dropped 9% in 2025 so far. Analyst Andrew Boone highlighted Duolingo's competitive edge with its freemium model and new features like Duolingo Max. This premium subscription offers enhanced AI features and is expected to drive more growth. Although Duolingo Max made up only 5% of its total subscriptions at the end of 2024, Boone sees it as a key area for expansion. Boone mentioned that Duolingo has many potential users since about 2 billion people are learning languages globally. He also noted that there are approximately 3.4 billion gamers, many of whom may be interested in the app. Furthermore, Boone pointed out that a significant number of Americans view themselves as lifelong learners. He believes that this trend can be seen worldwide. As Duolingo expands its offerings, such as music and math courses, it may become even more appealing to smartphone users.