Duolingo (NASDAQ:DUOL) Price Target Raised to $275.00 at JMP Securities

Duolingo (NASDAQ:DUOL) had its price objective boosted by JMP Securities from $260.00 to $275.00 in a research note issued to investors on Wednesday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other research firms have also commented on DUOL. DA Davidson reissued a buy rating and set a $250.00 price target on shares of Duolingo in a research report on Tuesday, September 10th. Piper Sandler restated an overweight rating and issued a $271.00 target price on shares of Duolingo in a research note on Friday, August 30th. Evercore ISI raised Duolingo to a strong-buy rating in a research report on Monday, August 5th. Wolfe Research initiated coverage on Duolingo in a research note on Tuesday, July 16th. They set a peer perform rating on the stock. Finally, Bank of America upgraded Duolingo from a neutral rating to a buy rating and set a $245.00 price target for the company in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Duolingo presently has an average rating of Moderate Buy and a consensus price target of $255.50.

Duolingo Price Performance

NASDAQ DUOL opened at $287.54 on Wednesday. The company has a market cap of $12.40 billion, a PE ratio of 296.43 and a beta of 0.76. The firm’s 50 day moving average price is $204.17 and its 200-day moving average price is $205.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. Duolingo has a 52-week low of $140.16 and a 52-week high of $297.56.

Duolingo (NASDAQ:DUOL) last announced its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.19. The business had revenue of $178.30 million for the quarter, compared to analysts’ expectations of $177.13 million. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. Sell-side analysts forecast that Duolingo will post 1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert Meese sold 5,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $270.00, for a total value of $1,350,000.00. Following the sale, the insider now directly owns 147,053 shares of the company’s stock, valued at approximately $39,704,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.51, for a total transaction of $311,265.00. Following the sale, the insider now owns 139,760 shares of the company’s stock, valued at approximately $29,001,597.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Meese sold 5,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $270.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the insider now owns 147,053 shares of the company’s stock, valued at $39,704,310. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,374 shares of company stock valued at $20,809,527. 18.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cim LLC grew its position in shares of Duolingo by 8.2% during the 2nd quarter. Cim LLC now owns 5,034 shares of the company’s stock valued at $1,058,000 after acquiring an additional 383 shares during the period. Clearbridge Investments LLC boosted its stake in Duolingo by 34.3% during the second quarter. Clearbridge Investments LLC now owns 173,867 shares of the company’s stock worth $36,281,000 after buying an additional 44,413 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Duolingo by 23.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock valued at $14,005,000 after buying an additional 12,860 shares in the last quarter. Creative Planning increased its stake in shares of Duolingo by 37.0% in the 2nd quarter. Creative Planning now owns 3,932 shares of the company’s stock worth $820,000 after acquiring an additional 1,061 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its stake in shares of Duolingo by 4.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 287,210 shares of the company’s stock worth $59,932,000 after acquiring an additional 12,666 shares during the last quarter. Hedge funds and other institutional investors 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.