Duolingo (NASDAQ:DUOL) Price Target Raised to $385.00

Duolingo (NASDAQ:DUOL) had its price objective increased by Needham & Company LLC from $370.00 to $385.00 in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on DUOL. JMP Securities cut Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their price target on Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Bank of America lowered shares of Duolingo from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $375.00 in a research note on Wednesday, December 11th. Seaport Res Ptn downgraded shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, UBS Group lifted their price target on shares of Duolingo from $355.00 to $408.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $353.90.

Duolingo Price Performance

Shares of DUOL stock opened at $342.12 on Thursday. The firm has a market cap of $15.05 billion, a price-to-earnings ratio of 186.95 and a beta of 0.85. Duolingo has a 12 month low of $145.05 and a 12 month high of $378.48. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $322.88 and a 200 day moving average price of $250.55.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The company had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. During the same quarter in the previous year, the company earned $0.06 EPS. Duolingo’s revenue was up 39.9% on a year-over-year basis. Research analysts expect that Duolingo will post 2.02 EPS for the current year.

Insider Buying and Selling

In other news, insider Severin Hacker sold 188,901 shares of Duolingo stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $339.54, for a total value of $64,139,445.54. Following the sale, the insider now directly owns 72 shares in the company, valued at $24,446.88. This trade represents a 99.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $280.91, for a total transaction of $421,365.00. Following the transaction, the insider now owns 138,260 shares of the company’s stock, valued at $38,838,616.60. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,160 shares of company stock valued at $84,588,416. Company insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new position in shares of Duolingo in the 2nd quarter valued at about $32,000. Nisa Investment Advisors LLC grew its stake in Duolingo by 19.5% in the second quarter. Nisa Investment Advisors LLC now owns 520 shares of the company’s stock valued at $109,000 after purchasing an additional 85 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of Duolingo during the 2nd quarter worth approximately $40,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Duolingo during the 2nd quarter worth approximately $220,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Duolingo in the 2nd quarter valued at approximately $2,191,000. 91.59% of the stock is owned by institutional investors.

About Duolingo

Duolingo, Inc operates as a mobile learning platform in the United States, the United Kingdom, and internationally. The company offers courses in 40 different languages, including Spanish, English, French, German, Italian, Portuguese, Japanese, and Chinese through its Duolingo app. It also provides a digital English language proficiency assessment exam.