Duolingo (NASDAQ:DUOL) Lowered to “Market Perform” at JMP Securities

JMP Securities downgraded shares of Duolingo (NASDAQ:DUOL) from an outperform rating to a market perform rating in a report issued on Monday, Marketbeat reports.

A number of other equities research analysts have also recently commented on the stock. DA Davidson reaffirmed a buy rating and issued a $250.00 target price on shares of Duolingo in a report on Tuesday, September 10th. Evercore ISI raised Duolingo to a strong-buy rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on Duolingo from $255.00 to $303.00 and gave the stock an overweight rating in a research note on Wednesday, September 25th. Needham & Company LLC boosted their target price on Duolingo from $245.00 to $310.00 and gave the stock a buy rating in a report on Wednesday, September 25th. Finally, Bank of America lifted their price objective on shares of Duolingo from $292.00 to $298.00 and gave the company a buy rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $270.56.

Duolingo Price Performance

Duolingo stock opened at $288.26 on Monday. The stock has a market cap of $12.43 billion, a P/E ratio of 297.18 and a beta of 0.79. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $233.87 and a 200-day simple moving average of $210.56. Duolingo has a 12-month low of $140.16 and a 12-month high of $297.56.

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

Insider Activity

In related news, General Counsel Stephen C. Chen sold 19,464 shares of the 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 of the company’s stock, valued at $7,522,294.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Stephen C. Chen sold 19,464 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 owns 35,558 shares in the company, valued at $7,522,294.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Matthew Skaruppa sold 17,591 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the sale, the chief financial officer now owns 88,856 shares in the company, valued at $18,417,183.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,374 shares of company stock valued at $18,571,912. Insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. acquired a new position in Duolingo during the second quarter worth about $32,000. Larson Financial Group LLC bought a new stake in Duolingo during the second quarter worth approximately $31,000. GAMMA Investing LLC grew its position in Duolingo by 350.0% in the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after buying an additional 133 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in shares of Duolingo in the second quarter valued at $36,000. Finally, Fifth Third Bancorp bought a new stake in shares of Duolingo during the 2nd quarter worth $40,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.