Piper Sandler Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its target price raised by Piper Sandler from $271.00 to $351.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. 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 increased their price target on shares of Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JMP Securities cut Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Wolfe Research began coverage on Duolingo in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Evercore ISI upgraded Duolingo to a “strong-buy” rating in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $325.44.

Duolingo Stock Up 3.5 %

Shares of Duolingo stock opened at $326.89 on Thursday. Duolingo has a 1-year low of $145.05 and a 1-year high of $330.61. The company has a market capitalization of $14.23 billion, a PE ratio of 178.63 and a beta of 0.79. 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 business has a 50-day moving average of $270.84 and a 200-day moving average of $221.65.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. Duolingo had a return on equity of 12.20% and a net margin of 12.59%. The firm had revenue of $192.59 million during the quarter, compared to analyst estimates of $189.19 million. During the same quarter last year, the firm earned $0.06 EPS. Duolingo’s quarterly revenue was up 39.9% on a year-over-year basis. As a group, equities analysts forecast that Duolingo will post 1.87 EPS for the current fiscal year.

Insider Activity at Duolingo

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.51, for a total value of $311,265.00. Following the sale, the insider now directly owns 139,760 shares of the company’s stock, valued at $29,001,597.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Duolingo news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the completion of the transaction, the insider now owns 139,760 shares in the company, valued at approximately $29,001,597.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Meese sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $285.04, for a total transaction of $1,425,200.00. Following the completion of the sale, the insider now owns 142,053 shares in the company, valued at $40,490,787.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,374 shares of company stock worth $15,802,382 in the last 90 days. 18.30% of the stock is currently owned by company insiders.

Institutional Trading of Duolingo

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Duolingo by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock worth $747,200,000 after purchasing an additional 67,004 shares in the last quarter. Whale Rock Capital Management LLC raised its stake in shares of Duolingo by 23.9% during the first quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after purchasing an additional 245,599 shares in the last quarter. Dragoneer Investment Group LLC acquired a new stake in Duolingo in the second quarter worth about $204,768,000. American Century Companies Inc. grew its position in Duolingo by 25.1% in the 2nd quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock valued at $104,117,000 after buying an additional 100,167 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Duolingo by 153.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock valued at $82,450,000 after buying an additional 238,990 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

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.