Duolingo (NASDAQ:DUOL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Duolingo (NASDAQ:DUOL) had its target price upped by equities researchers at JPMorgan Chase & Co. from $303.00 to $360.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.87% from the company’s previous close.

Several other analysts also recently issued reports on DUOL. DA Davidson reaffirmed a “buy” rating and issued a $250.00 price target on shares of Duolingo in a report on Tuesday, September 10th. Bank of America boosted their price target on Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Needham & Company LLC upped their price target on shares of Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday. Wolfe Research assumed coverage on Duolingo in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, JMP Securities downgraded Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.33.

Duolingo Price Performance

DUOL traded down $5.45 on Thursday, reaching $313.40. 764,476 shares of the company’s stock were exchanged, compared to its average volume of 700,212. The stock’s fifty day moving average price is $266.39 and its 200-day moving average price is $220.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28. The stock has a market cap of $13.65 billion, a PE ratio of 226.01 and a beta of 0.79. Duolingo has a twelve month low of $145.05 and a twelve month high of $324.00.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. The company had revenue of $192.59 million for the quarter, compared to the consensus estimate of $189.19 million. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The company’s quarterly revenue was up 39.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Sell-side analysts expect that Duolingo will post 1.87 EPS for the current year.

Insider Buying and Selling

In other news, CFO Matthew Skaruppa sold 17,591 shares of Duolingo stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total value of $3,646,086.57. Following the sale, the chief financial officer now directly owns 88,856 shares in the company, valued at approximately $18,417,183.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Matthew Skaruppa sold 17,591 shares of Duolingo stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the transaction, the chief financial officer now owns 88,856 shares in the company, valued at $18,417,183.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Meese sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $285.04, for a total value of $1,425,200.00. Following the transaction, the insider now owns 142,053 shares of the company’s stock, valued at $40,490,787.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,874 shares of company stock worth $15,332,342. 18.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DUOL. Dragoneer Investment Group LLC purchased a new stake in shares of Duolingo in the second quarter valued at about $204,768,000. Teachers Retirement System of The State of Kentucky boosted its position in Duolingo by 23.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock worth $14,005,000 after purchasing an additional 12,860 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Duolingo by 73.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after acquiring an additional 154,659 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Duolingo by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock worth $747,200,000 after buying an additional 67,004 shares in the last quarter. Finally, State of Michigan Retirement System acquired a new position in Duolingo during the 2nd quarter worth $1,857,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Duolingo Company Profile

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.