Needham & Company LLC Boosts Duolingo (NASDAQ:DUOL) Price Target to $310.00

Duolingo (NASDAQ:DUOL) had its target price lifted by Needham & Company LLC from $245.00 to $310.00 in a report published on Wednesday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Wolfe Research assumed coverage on Duolingo in a research report on Tuesday, July 16th. They issued a peer perform rating for the company. Evercore ISI upgraded Duolingo to a strong-buy rating in a research report on Monday, August 5th. Piper Sandler restated an overweight rating and issued a $271.00 target price on shares of Duolingo in a research report on Friday, August 30th. DA Davidson restated a buy rating and issued a $250.00 target price on shares of Duolingo in a research report on Tuesday, September 10th. Finally, Barclays dropped their target price on Duolingo from $230.00 to $183.00 and set an equal weight rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $255.50.

Duolingo Stock Performance

Shares of DUOL opened at $278.03 on Wednesday. The company has a market cap of $11.99 billion, a PE ratio of 286.63 and a beta of 0.76. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $208.21 and a 200-day moving average price of $206.23. Duolingo has a 12-month low of $140.16 and a 12-month high of $297.56.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The firm had revenue of $178.30 million during the quarter, compared to the consensus estimate of $177.13 million. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter last year, the company posted $0.08 EPS. As a group, equities analysts forecast that Duolingo will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $196.24, for a total transaction of $294,360.00. Following the transaction, the insider now directly owns 145,782 shares of the company’s stock, valued at $28,608,259.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Matthew Skaruppa sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $198.59, for a total transaction of $1,588,720.00. Following the transaction, the chief financial officer now directly owns 95,731 shares of the company’s stock, valued at $19,011,219.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $196.24, for a total value of $294,360.00. Following the transaction, the insider now directly owns 145,782 shares in the company, valued at $28,608,259.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,374 shares of company stock worth $22,019,727. 18.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duolingo

Hedge funds have recently made changes to their positions in the business. Cim LLC grew its stake in Duolingo by 8.2% in the second quarter. Cim LLC now owns 5,034 shares of the company’s stock worth $1,058,000 after purchasing an additional 383 shares during the period. Clearbridge Investments LLC increased its stake in shares of Duolingo by 34.3% in the 2nd quarter. Clearbridge Investments LLC now owns 173,867 shares of the company’s stock worth $36,281,000 after acquiring an additional 44,413 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted 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 valued at $14,005,000 after acquiring an additional 12,860 shares during the period. Creative Planning boosted its stake in Duolingo by 37.0% during the second quarter. Creative Planning now owns 3,932 shares of the company’s stock worth $820,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in Duolingo by 4.6% in the second quarter. Driehaus Capital Management LLC now owns 287,210 shares of the company’s stock worth $59,932,000 after purchasing an additional 12,666 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.