Duolingo (NASDAQ:DUOL) Price Target Raised to $400.00 at JPMorgan Chase & Co.

Duolingo (NASDAQ:DUOL) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $360.00 to $400.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 18.32% from the company’s current price.

DUOL has been the topic of a number of other reports. Piper Sandler increased their price objective on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Barclays raised their price target on Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. DA Davidson boosted their price objective on Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Seaport Res Ptn lowered Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Bank of America lowered shares of Duolingo from a “buy” rating to a “neutral” rating and boosted their target price for the company from $355.00 to $375.00 in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and a consensus price target of $352.40.

Duolingo Trading Down 0.4 %

Shares of DUOL stock opened at $338.07 on Thursday. The company has a market cap of $14.87 billion, a PE ratio of 184.74 and a beta of 0.85. Duolingo has a 1 year low of $145.05 and a 1 year high of $378.48. The stock’s 50 day simple moving average is $317.36 and its two-hundred day simple moving average is $245.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share 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 company had revenue of $192.59 million for the quarter, compared to analyst estimates of $189.19 million. During the same quarter in the prior year, the firm posted $0.06 EPS. Duolingo’s quarterly revenue was up 39.9% compared to the same quarter last year. Research analysts predict that Duolingo will post 2.02 earnings per share for the current year.

Insider Transactions at Duolingo

In related news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $280.91, for a total value of $421,365.00. Following the completion of the transaction, the insider now owns 138,260 shares of the company’s stock, valued at $38,838,616.60. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Meese sold 4,819 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $240.02, for a total value of $1,156,656.38. Following the sale, the insider now owns 157,053 shares of the company’s stock, valued at approximately $37,695,861.06. This represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,220 shares of company stock valued at $69,516,702. Company insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

A number of large investors have recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC bought a new stake in shares of Duolingo in the 2nd quarter valued at about $204,768,000. Charles Schwab Investment Management Inc. boosted its stake in Duolingo by 42.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company’s stock valued at $96,530,000 after acquiring an additional 101,653 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Duolingo by 23.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock worth $14,005,000 after purchasing an additional 12,860 shares in the last quarter. Lisanti Capital Growth LLC lifted its holdings in shares of Duolingo by 17.8% during the 3rd quarter. Lisanti Capital Growth LLC now owns 11,645 shares of the company’s stock valued at $3,284,000 after purchasing an additional 1,760 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Duolingo in the 3rd quarter worth $4,350,000. 91.59% of the stock is currently owned by institutional investors.

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.