JPMorgan Chase & Co. Raises Duolingo (NASDAQ:DUOL) Price Target to $360.00

Duolingo (NASDAQ:DUOL) had its price objective raised by JPMorgan Chase & Co. from $303.00 to $360.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts also recently issued reports on DUOL. Bank of America increased their price target on Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. DA Davidson restated a “buy” rating and issued a $250.00 price target on shares of Duolingo in a research note on Tuesday, September 10th. UBS Group increased their price objective on shares of Duolingo from $225.00 to $355.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays boosted their target price on shares of Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Evercore ISI raised shares of Duolingo to a “strong-buy” rating in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued 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 $325.44.

Duolingo Stock Up 3.5 %

Shares of NASDAQ DUOL opened at $326.89 on Thursday. The stock has a market capitalization of $14.23 billion, a PE ratio of 178.63 and a beta of 0.79. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average of $270.84 and a 200-day moving average of $221.61. Duolingo has a 52-week low of $145.05 and a 52-week high of $330.61.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.35 by $0.14. Duolingo had a net margin of 12.59% and a return on equity of 12.20%. The firm had revenue of $192.59 million for the quarter, compared to analyst estimates of $189.19 million. During the same quarter last year, the firm posted $0.06 earnings per share. Duolingo’s revenue for the quarter was up 39.9% compared to the same quarter last year. On average, analysts anticipate that Duolingo will post 1.87 EPS for the current year.

Insider Buying and Selling

In other Duolingo news, General Counsel Stephen C. Chen sold 19,464 shares of Duolingo stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $211.55, for a total value of $4,117,609.20. Following the completion of the transaction, the general counsel now directly owns 35,558 shares in the company, valued at $7,522,294.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Matthew Skaruppa sold 14,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.44, for a total transaction of $2,904,160.00. Following the completion of the transaction, the chief financial officer now owns 88,856 shares in the company, valued at approximately $18,432,288.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stephen C. Chen sold 19,464 shares of Duolingo stock in a transaction dated 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 in the company, valued at approximately $7,522,294.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,374 shares of company stock worth $15,802,382 over the last quarter. 18.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Duolingo

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Duolingo by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock worth $747,200,000 after buying an additional 67,004 shares during the period. Whale Rock Capital Management LLC boosted its position in Duolingo by 23.9% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock worth $281,281,000 after acquiring an additional 245,599 shares during the period. Dragoneer Investment Group LLC acquired a new stake in Duolingo in the second quarter worth about $204,768,000. American Century Companies Inc. lifted its stake in shares of Duolingo by 25.1% in the 2nd quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock worth $104,117,000 after acquiring an additional 100,167 shares during the period. Finally, Bank of New York Mellon Corp boosted 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 acquiring an additional 238,990 shares in the last quarter. 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.