Duolingo (NASDAQ:DUOL) Given New $310.00 Price Target at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its price target boosted by equities researchers at Needham & Company LLC from $245.00 to $310.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 14.90% from the stock’s current price.

Other analysts also recently issued research reports about the company. Piper Sandler reissued an “overweight” rating and set a $271.00 target price on shares of Duolingo in a research note on Friday, August 30th. Bank of America upgraded shares of Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 target price for the company in a research report on Friday, July 26th. DA Davidson reiterated a “buy” rating and issued a $250.00 price target on shares of Duolingo in a report on Tuesday, September 10th. JMP Securities increased their price objective on shares of Duolingo from $260.00 to $275.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, Evercore ISI raised Duolingo to a “strong-buy” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $245.40.

Duolingo Stock Down 0.2 %

DUOL stock opened at $269.79 on Wednesday. Duolingo has a fifty-two week low of $140.16 and a fifty-two week high of $273.22. The business’s 50-day moving average is $202.03 and its two-hundred day moving average is $204.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 278.13 and a beta of 0.76.

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

Insider Buying and Selling at Duolingo

In other news, CEO Ahn Luis Von sold 1,000 shares of Duolingo stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $215.00, for a total value of $215,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ahn Luis Von sold 1,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $215.00, for a total transaction of $215,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Meese sold 5,000 shares of Duolingo stock in a transaction on Friday, September 20th. The stock was sold at an average price of $270.00, for a total transaction of $1,350,000.00. Following the transaction, the insider now directly owns 147,053 shares of the company’s stock, valued at $39,704,310. The disclosure for this sale can be found here. Insiders have sold a total of 102,374 shares of company stock worth $20,809,527 over the last ninety days. Company insiders own 18.30% of the company’s stock.

Institutional Trading of Duolingo

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Duolingo by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock valued at $747,200,000 after buying an additional 67,004 shares during the last quarter. Whale Rock Capital Management LLC boosted its holdings in 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 acquiring an additional 245,599 shares during the period. Dragoneer Investment Group LLC bought a new position in Duolingo in the 2nd quarter valued at $204,768,000. American Century Companies Inc. increased its stake in Duolingo by 25.1% in the second quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock worth $104,117,000 after purchasing an additional 100,167 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 last quarter. Institutional investors own 91.59% of the company’s stock.

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.