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

Duolingo (NASDAQ:DUOL) had its price target raised by equities research analysts at Piper Sandler from $351.00 to $390.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 3.78% from the stock’s current price.

A number of other equities research analysts also recently commented on DUOL. Bank of America downgraded Duolingo from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $355.00 to $375.00 in a research report on Wednesday, December 11th. JMP Securities reiterated a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. Scotiabank began coverage on shares of Duolingo in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 price target on the stock. Needham & Company LLC increased their price objective on shares of Duolingo from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Friday. Finally, Seaport Res Ptn cut shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Duolingo currently has an average rating of “Moderate Buy” and a consensus target price of $360.45.

Duolingo Price Performance

DUOL stock opened at $375.78 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The company’s fifty day moving average price is $360.31 and its 200-day moving average price is $309.24. Duolingo has a one year low of $145.05 and a one year high of $441.77. The company has a market capitalization of $16.53 billion, a PE ratio of 205.35 and a beta of 0.89.

Insider Activity

In other Duolingo news, CFO Matthew Skaruppa sold 3,284 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $435.28, for a total value of $1,429,459.52. Following the sale, the chief financial officer now owns 59,982 shares in the company, valued at $26,108,964.96. This trade represents a 5.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Natalie Glance sold 2,667 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total transaction of $1,160,891.76. Following the sale, the insider now directly owns 129,572 shares of the company’s stock, valued at $56,400,100.16. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 305,639 shares of company stock valued at $105,445,057. 18.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Duolingo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Duolingo by 39.9% during the fourth quarter. FMR LLC now owns 3,726,561 shares of the company’s stock worth $1,208,263,000 after acquiring an additional 1,063,327 shares during the period. Norges Bank bought a new position in Duolingo in the fourth quarter worth approximately $152,296,000. T. Rowe Price Investment Management Inc. increased its holdings in Duolingo by 548.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company’s stock worth $152,659,000 after purchasing an additional 398,259 shares during the period. Invesco Ltd. increased its holdings in Duolingo by 53.5% during the 4th quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock worth $351,811,000 after purchasing an additional 378,225 shares during the period. Finally, Spyglass Capital Management LLC bought a new stake in Duolingo during the 3rd quarter valued at $38,512,000. 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.