Duolingo (NASDAQ:DUOL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Duolingo (NASDAQ:DUOL) had its price objective lifted by JPMorgan Chase & Co. from $360.00 to $400.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently weighed in on the stock. Scotiabank assumed coverage on shares of Duolingo in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 price target for the company. Piper Sandler boosted their price objective on Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their target price on shares of Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group raised their price target on shares of Duolingo from $355.00 to $408.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Bank of America downgraded shares of Duolingo from a “buy” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $375.00 in a research note on Wednesday. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Duolingo currently has an average rating of “Moderate Buy” and a consensus target price of $352.40.

Duolingo Stock Performance

NASDAQ DUOL opened at $338.07 on Thursday. The company has a market capitalization of $14.87 billion, a P/E ratio of 184.74 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. Duolingo has a 52-week low of $145.05 and a 52-week high of $378.48. The company has a fifty day moving average of $317.36 and a 200-day moving average of $245.80.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The company had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $189.19 million. During the same period last year, the firm posted $0.06 EPS. Duolingo’s revenue for the quarter was up 39.9% compared to the same quarter last year. As a group, equities research analysts predict that Duolingo will post 2.02 EPS for the current fiscal year.

Insider Transactions at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $313.36, for a total value of $470,040.00. Following the transaction, the insider now owns 136,760 shares of the company’s stock, valued at $42,855,113.60. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Meese sold 5,000 shares of Duolingo stock in a transaction dated 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 transaction, the insider now directly owns 147,053 shares in the company, valued at approximately $39,704,310. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,220 shares of company stock worth $69,516,702 in the last quarter. Company insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DUOL. FMR LLC boosted its position in shares of Duolingo by 26.9% in the third quarter. FMR LLC now owns 2,663,234 shares of the company’s stock worth $751,085,000 after purchasing an additional 564,173 shares during the period. State Street Corp boosted its holdings in Duolingo by 3.6% in the 3rd quarter. State Street Corp now owns 1,076,273 shares of the company’s stock worth $303,530,000 after buying an additional 36,923 shares during the period. Dragoneer Investment Group LLC bought a new position in Duolingo in the 2nd quarter worth $204,768,000. Geode Capital Management LLC increased its stake in Duolingo by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 672,800 shares of the company’s stock worth $189,790,000 after buying an additional 16,481 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Duolingo by 25.1% during the second quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock valued at $104,117,000 after acquiring an additional 100,167 shares during the period. 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.