JMP Securities Reaffirms Market Outperform Rating for Duolingo (NASDAQ:DUOL)

JMP Securities reiterated their market outperform rating on shares of Duolingo (NASDAQ:DUOL) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $260.00 price objective on the stock.

Other analysts have also issued reports about the stock. Piper Sandler reiterated an overweight rating and set a $265.00 target price (down from $282.00) on shares of Duolingo in a research report on Friday, May 10th. Needham & Company LLC boosted their price target on shares of Duolingo from $241.00 to $267.00 and gave the company a buy rating in a research report on Thursday, May 9th. Barclays reduced their price target on shares of Duolingo from $243.00 to $230.00 and set an equal weight rating on the stock in a research report on Thursday, May 9th. Finally, DA Davidson assumed coverage on shares of Duolingo in a research report on Thursday, June 13th. They issued a buy rating and a $250.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $246.70.

Duolingo Price Performance

Shares of Duolingo stock opened at $188.10 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.22 and a current ratio of 3.22. The firm’s 50-day simple moving average is $198.22 and its 200-day simple moving average is $204.70. Duolingo has a twelve month low of $121.89 and a twelve month high of $251.30. The firm has a market cap of $8.11 billion, a P/E ratio of 193.92 and a beta of 0.73.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Wednesday, May 8th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.27. Duolingo had a net margin of 7.82% and a return on equity of 7.08%. The business had revenue of $167.70 million for the quarter, compared to analyst estimates of $165.60 million. During the same period in the previous year, the business earned ($0.06) EPS. The firm’s revenue was up 44.9% on a year-over-year basis. As a group, research analysts expect that Duolingo will post 1.74 EPS for the current fiscal year.

Insider Transactions at Duolingo

In other news, CFO Matthew Skaruppa sold 2,698 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $177.29, for a total transaction of $478,328.42. Following the transaction, the chief financial officer now directly owns 86,709 shares in the company, valued at $15,372,638.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $223.47, for a total transaction of $2,234,700.00. Following the completion of the sale, the insider now directly owns 72 shares of the company’s stock, valued at $16,089.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matthew Skaruppa sold 2,698 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $177.29, for a total transaction of $478,328.42. Following the sale, the chief financial officer now directly owns 86,709 shares of the company’s stock, valued at $15,372,638.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,198 shares of company stock worth $11,929,033. Corporate insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Institutional investors and hedge funds have recently modified their holdings of the business. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Duolingo during the fourth quarter worth approximately $1,411,000. Raymond James & Associates bought a new stake in shares of Duolingo during the fourth quarter worth approximately $4,211,000. Cerity Partners LLC raised its stake in shares of Duolingo by 2,767.0% during the fourth quarter. Cerity Partners LLC now owns 46,789 shares of the company’s stock worth $10,614,000 after buying an additional 45,157 shares during the last quarter. UBS Group AG raised its stake in shares of Duolingo by 76.4% during the fourth quarter. UBS Group AG now owns 35,563 shares of the company’s stock worth $8,067,000 after buying an additional 15,404 shares during the last quarter. Finally, Trexquant Investment LP raised its stake in shares of Duolingo by 163.9% during the fourth quarter. Trexquant Investment LP now owns 29,441 shares of the company’s stock worth $6,679,000 after buying an additional 18,285 shares during the last quarter. 91.59% of the stock is 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.