Duolingo (NASDAQ:DUOL) Price Target Raised to $135.00

Duolingo (NASDAQ:DUOL) had its target price increased by JPMorgan Chase & Co. from $125.00 to $135.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also recently weighed in on DUOL. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Duolingo in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Duolingo from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. UBS Group lifted their price target on shares of Duolingo from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Compass Point began coverage on Duolingo in a research note on Tuesday, August 18th. They issued a “buy” rating on the stock. Finally, Truist Financial increased their price objective on Duolingo from $100.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $132.65.

Duolingo Trading Up 2.9%

Shares of Duolingo stock opened at $146.98 on Thursday. The firm has a market cap of $6.88 billion, a PE ratio of 17.41, a P/E/G ratio of 1.20 and a beta of 0.87. Duolingo has a 1 year low of $87.89 and a 1 year high of $353.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.72. The stock has a fifty day moving average price of $132.35 and a 200-day moving average price of $115.42.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. The company had revenue of $298.45 million for the quarter, compared to the consensus estimate of $295.58 million. Duolingo had a net margin of 35.88% and a return on equity of 12.10%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Equities research analysts anticipate that Duolingo will post 2.62 EPS for the current year.

Insider Buying and Selling

In other Duolingo news, General Counsel Stephen C. Chen sold 1,024 shares of Duolingo stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $129.13, for a total transaction of $132,229.12. Following the completion of the transaction, the general counsel owned 51,841 shares of the company’s stock, valued at $6,694,228.33. The trade was a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Meese sold 1,354 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $129.13, for a total value of $174,842.02. Following the sale, the insider owned 169,391 shares in the company, valued at approximately $21,873,459.83. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 6,668 shares of company stock valued at $874,382. Corporate insiders own 16.62% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Large investors have recently modified their holdings of the company. Lingotto Investment Management LLP raised its holdings in shares of Duolingo by 34.3% in the 4th quarter. Lingotto Investment Management LLP now owns 33,563 shares of the company’s stock valued at $5,890,000 after acquiring an additional 8,563 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Duolingo during the fourth quarter worth about $3,752,000. Investment House LLC increased its position in shares of Duolingo by 250.7% in the fourth quarter. Investment House LLC now owns 18,038 shares of the company’s stock worth $3,166,000 after purchasing an additional 12,894 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Duolingo by 206.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 77,674 shares of the company’s stock worth $13,632,000 after purchasing an additional 52,364 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in Duolingo in the fourth quarter valued at approximately $1,682,000. 91.59% of the stock is currently owned by institutional investors.

Duolingo Company Profile

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.