The Goldman Sachs Group Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

Duolingo (NASDAQ:DUOL) had its price objective raised by The Goldman Sachs Group from $250.00 to $275.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America increased their price target on Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on Duolingo from $255.00 to $303.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Wolfe Research started coverage on Duolingo in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Piper Sandler lifted their price target on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.44.

Duolingo Stock Up 3.5 %

Duolingo stock opened at $326.89 on Thursday. Duolingo has a 52 week low of $145.05 and a 52 week high of $330.61. The firm has a market cap of $14.23 billion, a price-to-earnings ratio of 178.63 and a beta of 0.79. The business’s 50-day moving average price is $270.84 and its 200 day moving average price is $221.61. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. Duolingo had a net margin of 12.59% and a return on equity of 12.20%. The business had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $189.19 million. During the same quarter last year, the company earned $0.06 EPS. The business’s revenue was up 39.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Duolingo will post 1.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Matthew Skaruppa sold 17,591 shares of the 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 sale, the chief financial officer now directly owns 88,856 shares in the company, valued at $18,417,183.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Matthew Skaruppa sold 17,591 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 88,856 shares in the company, valued at $18,417,183.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stephen C. Chen sold 19,464 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the completion of the sale, the general counsel now directly owns 35,558 shares of the company’s stock, valued at approximately $7,522,294.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,374 shares of company stock valued at $15,802,382 in the last 90 days. 18.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DUOL. First Horizon Advisors Inc. acquired a new stake in Duolingo during the third quarter worth about $29,000. Larson Financial Group LLC purchased a new stake in shares of Duolingo in the 2nd quarter valued at approximately $31,000. Blue Trust Inc. acquired a new stake in shares of Duolingo during the 2nd quarter worth approximately $32,000. GAMMA Investing LLC raised its position in shares of Duolingo by 350.0% during the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $36,000 after buying an additional 133 shares during the period. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Duolingo during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds 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.