Duolingo (NASDAQ:DUOL) Price Target Raised to $370.00 at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its price objective boosted by Needham & Company LLC from $310.00 to $370.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

DUOL has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on Duolingo from $255.00 to $303.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Evercore ISI upgraded Duolingo to a “strong-buy” rating in a report on Monday, August 5th. The Goldman Sachs Group increased their price objective on shares of Duolingo from $198.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Wolfe Research began coverage on shares of Duolingo in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, JMP Securities lowered Duolingo from an “outperform” rating to a “market perform” rating in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $325.44.

Duolingo Stock Performance

Shares of DUOL stock traded up $11.07 during trading on Thursday, hitting $326.89. The company’s stock had a trading volume of 682,468 shares, compared to its average volume of 702,307. The business has a fifty day moving average of $268.56 and a 200-day moving average of $220.76. The company has a market cap of $14.23 billion, a PE ratio of 225.59 and a beta of 0.79. Duolingo has a 52 week low of $145.05 and a 52 week high of $330.61. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.13. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The firm had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $189.19 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was up 39.9% on a year-over-year basis. As a group, research analysts anticipate that Duolingo will post 1.87 earnings per share for the current year.

Insider Buying and Selling at Duolingo

In related news, CFO Matthew Skaruppa sold 17,591 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total value of $3,646,086.57. Following the transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at $18,417,183.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Duolingo news, insider Natalie Glance sold 1,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $313.36, for a total transaction of $470,040.00. Following the sale, the insider now directly owns 136,760 shares of the company’s stock, valued at approximately $42,855,113.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew Skaruppa sold 17,591 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total value of $3,646,086.57. Following the completion of the transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,374 shares of company stock worth $15,802,382. 18.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Duolingo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC acquired a new position in shares of Duolingo in the second quarter worth about $31,000. Blue Trust Inc. acquired a new stake in Duolingo in the second quarter valued at approximately $32,000. GAMMA Investing LLC increased its position in shares of Duolingo by 350.0% in the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Duolingo during the 2nd quarter valued at approximately $36,000. Finally, Farther Finance Advisors LLC grew its position in shares of Duolingo by 164.6% in the third quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds 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.