JPMorgan Chase & Co. Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $360.00 to $500.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 2.79% from the company’s current price.

DUOL has been the subject of several other research reports. Evercore ISI boosted their price objective on Duolingo from $400.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday. Needham & Company LLC upped their price target on Duolingo from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group increased their price objective on Duolingo from $275.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Citizens Jmp raised shares of Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a research report on Tuesday, March 18th. Finally, Barclays increased their price target on shares of Duolingo from $330.00 to $375.00 and gave the company an “equal weight” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Duolingo presently has an average rating of “Moderate Buy” and a consensus price target of $422.50.

Duolingo Trading Up 21.6 %

Shares of DUOL stock opened at $486.42 on Friday. The business’s 50 day moving average is $326.31 and its two-hundred day moving average is $336.84. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo has a 12 month low of $145.05 and a 12 month high of $487.00. The company has a market cap of $22.01 billion, a PE ratio of 265.80 and a beta of 0.91.

Duolingo (NASDAQ:DUOL) last posted its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.20. The business had revenue of $230.74 million for the quarter, compared to analyst estimates of $223.15 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. Duolingo’s revenue was up 37.6% compared to the same quarter last year. Equities analysts predict that Duolingo will post 2.03 EPS for the current year.

Insider Activity

In other news, General Counsel Stephen C. Chen sold 2,064 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $435.12, for a total value of $898,087.68. Following the completion of the transaction, the general counsel now directly owns 34,634 shares of the company’s stock, valued at approximately $15,069,946.08. This represents a 5.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $391.46, for a total value of $3,914,600.00. Following the completion of the sale, the insider now directly owns 72 shares in the company, valued at approximately $28,185.12. This represents a 99.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,868 shares of company stock worth $37,549,300. Corporate insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in shares of Duolingo by 39.9% during the 4th quarter. FMR LLC now owns 3,726,561 shares of the company’s stock worth $1,208,263,000 after purchasing an additional 1,063,327 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Duolingo by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,542,194 shares of the company’s stock worth $1,148,486,000 after buying an additional 70,705 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Duolingo by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company’s stock valued at $434,398,000 after acquiring an additional 10,638 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Duolingo by 53.5% in the 4th quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock worth $351,811,000 after acquiring an additional 378,225 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Duolingo by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 683,498 shares of the company’s stock worth $221,676,000 after acquiring an additional 10,698 shares during 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.