Duolingo (NASDAQ:DUOL) Price Target Raised to $408.00

Duolingo (NASDAQ:DUOL) had its price target lifted by UBS Group from $355.00 to $408.00 in a report published on Thursday,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the stock. Bank of America increased their price objective on shares of Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. DA Davidson raised their price target on Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI raised Duolingo to a “strong-buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on Duolingo from $303.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Piper Sandler boosted their target price on Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $331.33.

Duolingo Trading Down 4.7 %

NASDAQ:DUOL opened at $307.32 on Thursday. Duolingo has a 12-month low of $145.05 and a 12-month high of $330.61. The firm has a market cap of $13.38 billion, a PE ratio of 167.93 and a beta of 0.79. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $281.68 and a 200 day moving average price of $224.95.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. During the same quarter last year, the business posted $0.06 EPS. The business’s quarterly revenue was up 39.9% compared to the same quarter last year. Sell-side analysts anticipate that Duolingo will post 2.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 transaction of $470,040.00. Following the transaction, the insider now owns 136,760 shares of the company’s stock, valued at $42,855,113.60. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Matthew Skaruppa sold 17,591 shares of Duolingo 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 transaction, the chief financial officer now directly owns 88,856 shares in the company, valued at approximately $18,417,183.12. This trade represents a 16.53 % 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 over the last quarter. Company insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DUOL. Dragoneer Investment Group LLC acquired a new position in shares of Duolingo in the second quarter valued at approximately $204,768,000. FMR LLC increased its holdings in shares of Duolingo by 26.9% in the third quarter. FMR LLC now owns 2,663,234 shares of the company’s stock valued at $751,085,000 after purchasing an additional 564,173 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Duolingo by 30,909.9% in the third quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock valued at $100,135,000 after purchasing an additional 353,918 shares during the period. Whale Rock Capital Management LLC increased its holdings in shares of Duolingo by 23.9% in the first quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after purchasing an additional 245,599 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Duolingo by 153.1% in the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock valued at $82,450,000 after purchasing an additional 238,990 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.