The Goldman Sachs Group Increases Duolingo (NASDAQ:DUOL) Price Target to $250.00

Duolingo (NASDAQ:DUOL) had its price objective increased by equities research analysts at The Goldman Sachs Group from $198.00 to $250.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential downside of 13.09% from the stock’s current price.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. lifted their price target on Duolingo from $255.00 to $303.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. JMP Securities cut shares of Duolingo from an “outperform” rating to a “market perform” rating in a report on Monday. Piper Sandler reaffirmed an “overweight” rating and set a $271.00 price target on shares of Duolingo in a report on Friday, August 30th. Barclays lowered their price objective on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC boosted their target price on shares of Duolingo from $245.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and a consensus price target of $277.22.

Duolingo Stock Up 0.4 %

DUOL stock opened at $287.65 on Wednesday. Duolingo has a 52 week low of $140.16 and a 52 week high of $297.56. The business has a 50-day simple moving average of $241.05 and a 200 day simple moving average of $212.11. 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 company has a market cap of $12.40 billion, a PE ratio of 296.55 and a beta of 0.79.

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

Insider Buying and Selling

In related news, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total transaction of $242,670.00. Following the completion of the transaction, the insider now directly owns 144,282 shares of the company’s stock, valued at $23,341,941.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Robert Meese sold 4,819 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $240.02, for a total value of $1,156,656.38. Following the sale, the insider now directly owns 157,053 shares in the company, valued at $37,695,861.06. This represents 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 hyperlink. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $161.78, for a total transaction of $242,670.00. Following the sale, the insider now directly owns 144,282 shares of the company’s stock, valued at $23,341,941.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,374 shares of company stock valued at $18,571,912 over the last 90 days. 18.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Duolingo

Several large investors have recently modified their holdings of the company. Dragoneer Investment Group LLC bought a new stake in Duolingo during the second quarter valued at $204,768,000. Whale Rock Capital Management LLC boosted its position in shares of Duolingo by 23.9% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after purchasing an additional 245,599 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Duolingo by 153.1% during the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock worth $82,450,000 after purchasing an additional 238,990 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Duolingo by 73.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock valued at $80,459,000 after buying an additional 154,659 shares during the period. Finally, Clearbridge Investments LLC bought a new position in shares of Duolingo during the 1st quarter worth approximately $28,555,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.