Needham & Company LLC Boosts Duolingo (NASDAQ:DUOL) Price Target to $310.00

Duolingo (NASDAQ:DUOL) had its price objective increased by Needham & Company LLC from $245.00 to $310.00 in a report released on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. DA Davidson reiterated a buy rating and issued a $250.00 price objective on shares of Duolingo in a research note on Tuesday, September 10th. JMP Securities boosted their price objective on Duolingo from $260.00 to $275.00 and gave the company a market outperform rating in a research note on Wednesday. Piper Sandler reaffirmed an overweight rating and set a $271.00 price target on shares of Duolingo in a report on Friday, August 30th. Evercore ISI raised shares of Duolingo to a strong-buy rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Duolingo from $275.00 to $255.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $255.50.

Duolingo Stock Up 0.0 %

NASDAQ:DUOL opened at $278.03 on Wednesday. The firm has a 50-day simple moving average of $208.21 and a two-hundred day simple moving average of $206.07. Duolingo has a fifty-two week low of $140.16 and a fifty-two week high of $297.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. The firm has a market cap of $11.99 billion, a P/E ratio of 286.63 and a beta of 0.76.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.32 by $0.19. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The company had revenue of $178.30 million for the quarter, compared to analysts’ expectations of $177.13 million. During the same period last year, the firm posted $0.08 earnings per share. Duolingo’s revenue was up 40.6% compared to the same quarter last year. Analysts predict that Duolingo will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Duolingo

In other news, CFO Matthew Skaruppa sold 8,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $198.59, for a total transaction of $1,588,720.00. Following the transaction, the chief financial officer now owns 95,731 shares in the company, valued at $19,011,219.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 transaction of $4,117,609.20. Following the completion of the sale, the general counsel now owns 35,558 shares of the company’s stock, valued at $7,522,294.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Skaruppa sold 8,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $198.59, for a total value of $1,588,720.00. Following the completion of the sale, the chief financial officer now directly owns 95,731 shares of the company’s stock, valued at approximately $19,011,219.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,374 shares of company stock worth $22,019,727. Company insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. UBS Group AG lifted its holdings in shares of Duolingo by 76.4% during the fourth quarter. UBS Group AG now owns 35,563 shares of the company’s stock worth $8,067,000 after purchasing an additional 15,404 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Duolingo by 73.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock valued at $80,459,000 after acquiring an additional 154,659 shares during the period. Mark Asset Management LP purchased a new stake in Duolingo in the 4th quarter worth approximately $6,797,000. Vanguard Group Inc. grew its position in Duolingo by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock valued at $747,200,000 after buying an additional 67,004 shares during the period. Finally, State of Michigan Retirement System purchased a new position in shares of Duolingo in the 2nd quarter valued at about $1,857,000. 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.