Duolingo (NASDAQ:DUOL) Price Target Raised to $370.00 at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its target price hoisted by stock analysts at Needham & Company LLC from $310.00 to $370.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 16.04% from the company’s current price.

Other analysts have also issued reports about the company. Evercore ISI raised Duolingo to a “strong-buy” rating in a report on Monday, August 5th. DA Davidson reissued a “buy” rating and issued a $250.00 target price on shares of Duolingo in a report on Tuesday, September 10th. Wolfe Research began coverage on shares of Duolingo in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. UBS Group increased their price target on shares of Duolingo from $225.00 to $355.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Bank of America boosted their price objective on shares of Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $292.78.

Duolingo Stock Up 5.2 %

Shares of DUOL opened at $318.85 on Thursday. The firm has a market cap of $13.88 billion, a P/E ratio of 227.75 and a beta of 0.79. 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 52 week low of $145.05 and a 52 week high of $319.44. The firm’s 50-day simple moving average is $266.39 and its 200 day simple moving average is $220.10.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $177.13 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, analysts forecast that Duolingo will post 1.87 earnings per share for the current year.

Insider Buying and Selling at Duolingo

In other Duolingo news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.51, for a total transaction of $311,265.00. Following the transaction, the insider now directly owns 139,760 shares of the company’s stock, valued at $29,001,597.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Duolingo news, General Counsel Stephen C. Chen sold 19,464 shares of the company’s stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.51, for a total transaction of $311,265.00. Following the sale, the insider now owns 139,760 shares of the company’s stock, valued at approximately $29,001,597.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,874 shares of company stock valued at $15,332,342. Corporate insiders own 18.30% of the company’s stock.

Institutional Trading of Duolingo

Institutional investors have recently modified their holdings of the business. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Duolingo in the third quarter valued at $3,317,000. Mount Lucas Management LP increased its holdings in Duolingo by 2.4% during the 3rd quarter. Mount Lucas Management LP now owns 1,340 shares of the company’s stock worth $378,000 after acquiring an additional 32 shares during the period. CIBC Asset Management Inc grew its position in shares of Duolingo by 3.1% during the 3rd quarter. CIBC Asset Management Inc now owns 1,061 shares of the company’s stock valued at $299,000 after purchasing an additional 32 shares in the last quarter. Impax Asset Management Group plc purchased a new stake in shares of Duolingo in the third quarter worth $2,621,000. Finally, Aubrey Capital Management Ltd boosted its stake in Duolingo by 4.7% during the third quarter. Aubrey Capital Management Ltd now owns 13,500 shares of the company’s stock valued at $3,808,000 after buying an additional 600 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.