Duolingo (NASDAQ:DUOL) Price Target Raised to $400.00

Duolingo (NASDAQ:DUOL) had its target price upped by equities researchers at DA Davidson from $350.00 to $400.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 28.18% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on DUOL. Needham & Company LLC raised their target price on shares of Duolingo from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Duolingo from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Scotiabank assumed coverage on shares of Duolingo in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 target price on the stock. Seaport Res Ptn downgraded shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Duolingo in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.09.

Duolingo Trading Down 17.0 %

Shares of Duolingo stock opened at $312.07 on Friday. Duolingo has a 12-month low of $145.05 and a 12-month high of $441.77. The company has a market cap of $13.73 billion, a price-to-earnings ratio of 170.53 and a beta of 0.89. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $359.71 and its 200-day moving average price is $310.97.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.19). Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The firm had revenue of $209.55 million during the quarter, compared to analysts’ expectations of $205.49 million. On average, equities analysts expect that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Duolingo news, General Counsel Stephen C. Chen sold 2,064 shares of Duolingo stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total transaction of $898,087.68. Following the transaction, the general counsel now directly owns 34,634 shares of the company’s stock, valued at approximately $15,069,946.08. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $369.33, for a total transaction of $553,995.00. Following the completion of the transaction, the insider now owns 132,239 shares in the company, valued at $48,839,829.87. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 305,639 shares of company stock valued at $105,445,057. 18.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP grew its holdings in shares of Duolingo by 250.0% in the fourth quarter. Quarry LP now owns 91 shares of the company’s stock worth $30,000 after purchasing an additional 65 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Duolingo in the third quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Duolingo in the fourth quarter worth approximately $31,000. First Horizon Advisors Inc. bought a new position in shares of Duolingo in the third quarter worth approximately $29,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Duolingo by 5,050.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock worth $33,000 after purchasing an additional 101 shares during the last quarter. 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.