Duolingo Inc. (DUOL) stock is up nearly 5% in the premarket session early Tuesday after Evercore ISI doubled its price target on the company, saying that the language-learning platform could be entering a growth cycle that serves as a reminder of Netflix in 2022.

Evercore ISI analyst Mark Mahaney upgraded Duolingo to ‘Outperform’ from ‘In Line’ with a price target of $210, up from $105, as per TheFly. The revised target implies an upside of more than 40% from its last close.

The analyst said that they had “materially” increased the firm’s estimates following a proprietary survey and an analysis of current product improvements.

Evercore Sees Netflix-Like Turnaround For DUOL Stock

Evercore said its fiscal year 2027 and FY28…