Duolingo (NASDAQ:DUOL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Duolingo (NASDAQ:DUOL) had its price objective lifted by analysts at Piper Sandler from $271.00 to $351.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 7.38% from the company’s current price.

A number of other analysts also recently issued reports on DUOL. Needham & Company LLC lifted their price target on Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on Duolingo from $255.00 to $303.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group increased their target price on Duolingo from $198.00 to $250.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. UBS Group raised their price objective on Duolingo from $225.00 to $355.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Barclays cut their target price on Duolingo from $230.00 to $183.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $325.44.

Duolingo Price Performance

Shares of NASDAQ:DUOL traded up $11.07 during midday trading on Thursday, hitting $326.89. The company had a trading volume of 682,721 shares, compared to its average volume of 472,690. The business’s 50-day simple moving average is $270.84 and its 200-day simple moving average is $221.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 178.63 and a beta of 0.79. Duolingo has a twelve month low of $145.05 and a twelve month high of $330.61.

Duolingo (NASDAQ:DUOL) last posted its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.13. The company had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a return on equity of 12.20% and a net margin of 12.59%. The firm’s quarterly revenue was up 39.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. On average, research analysts predict that Duolingo will post 1.87 earnings per share for the current year.

Insider Buying and Selling

In other Duolingo news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 136,760 shares in the company, valued at $42,855,113.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction that occurred on 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 owns 136,760 shares of the company’s stock, valued at approximately $42,855,113.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert Meese sold 5,000 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,374 shares of company stock worth $15,802,382. Corporate insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Institutional investors and hedge funds have recently modified their holdings of the business. Dragoneer Investment Group LLC acquired a new stake in shares of Duolingo in the 2nd quarter valued at $204,768,000. Teachers Retirement System of The State of Kentucky lifted its position in Duolingo by 23.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock worth $14,005,000 after acquiring an additional 12,860 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Duolingo by 73.6% during the 1st 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 during the last quarter. Vanguard Group Inc. lifted its position in Duolingo by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock worth $747,200,000 after acquiring an additional 67,004 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new position in Duolingo during the 2nd quarter worth $1,857,000. 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.