Duolingo (NASDAQ:DUOL) PT Raised to $275.00 at JMP Securities

Duolingo (NASDAQ:DUOL) had its price target hoisted by analysts at JMP Securities from $260.00 to $275.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential downside of 1.06% from the company’s previous close.

Several other research analysts also recently issued reports on DUOL. Bank of America upgraded shares of Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 price target for the company in a report on Friday, July 26th. Needham & Company LLC dropped their target price on Duolingo from $267.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on Duolingo from $275.00 to $255.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Wolfe Research began coverage on shares of Duolingo in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Piper Sandler reiterated an “overweight” rating and set a $271.00 target price on shares of Duolingo in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.50.

Duolingo Price Performance

Shares of DUOL stock opened at $277.96 on Wednesday. Duolingo has a twelve month low of $140.16 and a twelve month high of $297.56. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $206.15 and a 200 day simple moving average of $205.85. The company has a market cap of $11.99 billion, a P/E ratio of 286.56 and a beta of 0.76.

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

Insider Activity

In related news, General Counsel Stephen C. Chen sold 19,464 shares of Duolingo stock in a transaction on Friday, August 30th. The shares were sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the completion of the transaction, the general counsel now owns 35,558 shares of the company’s stock, valued at $7,522,294.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Stephen C. Chen sold 19,464 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the completion of the sale, the general counsel now owns 35,558 shares of the company’s stock, valued at $7,522,294.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Meese sold 5,000 shares of the business’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 value of $1,425,200.00. Following the completion of the transaction, the insider now directly owns 142,053 shares in the company, valued at $40,490,787.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,374 shares of company stock valued at $22,019,727. 18.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dragoneer Investment Group LLC acquired a new position in shares of Duolingo during the second quarter valued at about $204,768,000. Whale Rock Capital Management LLC increased its position in Duolingo by 23.9% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after buying an additional 245,599 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Duolingo by 153.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock worth $82,450,000 after buying an additional 238,990 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Duolingo by 73.6% in 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 in the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in Duolingo in the first quarter valued at approximately $28,555,000. 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.