Duolingo (NASDAQ:DUOL) Price Target Raised to $385.00 at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its price objective lifted by Needham & Company LLC from $370.00 to $385.00 in a research report report published on Thursday morning, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms have also weighed in on DUOL. Barclays raised their price objective on Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Piper Sandler upped their price objective on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. UBS Group lifted their target price 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. Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, DA Davidson boosted their target price on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. 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. Based on data from MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and a consensus target price of $353.90.

Duolingo Stock Up 1.2 %

Shares of DUOL stock traded up $4.01 during mid-day trading on Thursday, reaching $339.23. 96,814 shares of the company were exchanged, compared to its average volume of 684,636. The company has a market capitalization of $14.92 billion, a P/E ratio of 185.37 and a beta of 0.85. The business’s 50 day simple moving average is $321.84 and its 200 day simple moving average is $249.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $378.48.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $189.19 million. During the same period in the prior year, the business posted $0.06 EPS. The business’s revenue for the quarter was up 39.9% compared to the same quarter last year. Research analysts predict that Duolingo will post 2.02 earnings per share for the current year.

Insider Buying and Selling

In other Duolingo news, insider Robert Meese sold 5,000 shares of Duolingo stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total value of $1,425,200.00. Following the completion of the transaction, the insider now owns 142,053 shares in the company, valued at approximately $40,490,787.12. The trade was a 3.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $280.91, for a total value of $421,365.00. Following the completion of the sale, the insider now owns 138,260 shares of the company’s stock, valued at $38,838,616.60. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 240,160 shares of company stock valued at $81,220,216 over the last ninety days. 18.30% of the stock is owned by company insiders.

Institutional Trading of Duolingo

A number of large investors have recently made changes to their positions in DUOL. True Wealth Design LLC bought a new stake in shares of Duolingo in the third quarter worth about $26,000. First Horizon Advisors Inc. bought a new stake in Duolingo during the third quarter worth $29,000. Larson Financial Group LLC acquired a new stake in Duolingo in the second quarter valued at $31,000. Blue Trust Inc. bought a new stake in shares of Duolingo in the 2nd quarter valued at about $32,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Duolingo in the 2nd quarter valued at about $36,000. 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.