Duolingo (NASDAQ:DUOL) Reaches New 1-Year High – Time to Buy?

Shares of Duolingo, Inc. (NASDAQ:DUOL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $366.99 and last traded at $365.00, with a volume of 20410 shares. The stock had previously closed at $360.98.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. DA Davidson raised their price target on Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their price target on Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Seaport Res Ptn downgraded Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America boosted their target price on Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Piper Sandler boosted their target price on Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Duolingo has an average rating of “Moderate Buy” and a consensus target price of $340.70.

Duolingo Stock Up 2.3 %

The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $307.07 and a 200-day moving average price of $237.24. The firm has a market capitalization of $16.41 billion, a PE ratio of 203.84 and a beta of 0.85.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The business had revenue of $192.59 million during the quarter, compared to analyst estimates of $189.19 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business’s revenue was up 39.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. Equities research analysts forecast that Duolingo, Inc. will post 2.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $313.36, for a total value of $470,040.00. Following the transaction, the insider now owns 136,760 shares of the company’s stock, valued at $42,855,113.60. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert Meese sold 5,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $270.00, for a total value of $1,350,000.00. Following the completion of the transaction, the insider now directly owns 147,053 shares in the company, valued at $39,704,310. This trade represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,819 shares of company stock worth $4,823,261. Company insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Several hedge funds have recently made changes to their positions in DUOL. GAMMA Investing LLC grew its holdings in shares of Duolingo by 350.0% during the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Duolingo by 109.2% during the second quarter. SG Americas Securities LLC now owns 7,615 shares of the company’s stock worth $1,589,000 after purchasing an additional 3,975 shares during the last quarter. Securian Asset Management Inc. purchased a new position in shares of Duolingo during the second quarter worth about $614,000. M&G Plc grew its holdings in shares of Duolingo by 12.4% during the second quarter. M&G Plc now owns 37,196 shares of the company’s stock worth $7,774,000 after purchasing an additional 4,098 shares during the last quarter. Finally, Blue Trust Inc. purchased a new position in shares of Duolingo during the second quarter worth about $32,000. 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.