Duolingo (NASDAQ:DUOL) Price Target Increased to $303.00 by Analysts at JPMorgan Chase & Co.

Duolingo (NASDAQ:DUOL) had its target price upped by JPMorgan Chase & Co. from $255.00 to $303.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 5.07% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Bank of America boosted their price target on shares of Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC boosted their price target on shares of Duolingo from $245.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities boosted their price target on shares of Duolingo from $260.00 to $275.00 and gave the company a “market outperform” rating in a report on Wednesday. Evercore ISI raised shares of Duolingo to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Wolfe Research started coverage on shares of Duolingo in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $255.50.

Duolingo Trading Up 6.9 %

Duolingo stock traded up $18.60 during trading hours on Wednesday, hitting $288.39. The company had a trading volume of 542,280 shares, compared to its average volume of 729,567. The firm has a market cap of $12.44 billion, a P/E ratio of 299.08 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. Duolingo has a 1 year low of $140.16 and a 1 year high of $289.80. The company has a 50-day moving average price of $202.03 and a two-hundred day moving average price of $204.76.

Duolingo (NASDAQ:DUOL) last posted 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. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The business had revenue of $178.30 million during the quarter, compared to analyst estimates of $177.13 million. During the same quarter in the previous year, the business posted $0.08 EPS. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Duolingo will post 1.87 earnings per share for the current year.

Insider Activity

In other Duolingo news, CEO Ahn Luis Von sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. In other Duolingo news, General Counsel Stephen C. Chen sold 19,464 shares of the company’s 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. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ahn Luis Von sold 1,000 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 102,374 shares of company stock valued at $20,809,527. Company insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC purchased a new stake in Duolingo in the 2nd quarter worth $31,000. Blue Trust Inc. purchased a new position in Duolingo in the 2nd quarter valued at about $32,000. GAMMA Investing LLC boosted its holdings in Duolingo by 350.0% in the 2nd 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 purchased a new stake in Duolingo during the 2nd quarter worth approximately $36,000. Finally, Fifth Third Bancorp acquired a new position in shares of Duolingo during the second quarter valued at approximately $40,000. 91.59% of the stock is 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.