The Goldman Sachs Group Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

Duolingo (NASDAQ:DUOL) had its price target boosted by investment analysts at The Goldman Sachs Group from $250.00 to $275.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 10.86% from the company’s current price.

DUOL has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on Duolingo from $255.00 to $303.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Needham & Company LLC upped their price objective on shares of Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler boosted their price target on Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a report on Thursday. Wolfe Research started coverage on Duolingo in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, DA Davidson reaffirmed a “buy” rating and set a $250.00 price objective on shares of Duolingo in a research note on Tuesday, September 10th. Four 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. Based on data from MarketBeat.com, Duolingo has a consensus rating of “Moderate Buy” and an average target price of $308.00.

Duolingo Price Performance

DUOL stock traded down $10.36 during trading on Thursday, reaching $308.49. 610,962 shares of the company were exchanged, compared to its average volume of 699,502. 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 stock’s 50 day moving average price is $266.39 and its 200 day moving average price is $220.10. Duolingo has a 52-week low of $145.05 and a 52-week high of $324.00. The company has a market cap of $13.43 billion, a P/E ratio of 220.35 and a beta of 0.79.

Duolingo (NASDAQ:DUOL) last announced its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.13. The company had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The firm’s quarterly revenue was up 39.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. As a group, analysts predict that Duolingo will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Duolingo

In other news, General Counsel Stephen C. Chen sold 19,464 shares of the firm’s stock in a transaction on 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 transaction, the general counsel now owns 35,558 shares of the company’s stock, valued at approximately $7,522,294.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Matthew Skaruppa sold 14,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.44, for a total value of $2,904,160.00. Following the sale, the chief financial officer now owns 88,856 shares in the company, valued at approximately $18,432,288.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stephen C. Chen sold 19,464 shares of the company’s stock in a transaction that occurred on 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 transaction, the general counsel now directly owns 35,558 shares of the company’s stock, valued at $7,522,294.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,874 shares of company stock valued at $15,332,342 over the last 90 days. Corporate insiders own 18.30% of the company’s stock.

Institutional Trading of Duolingo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dragoneer Investment Group LLC purchased a new stake in Duolingo during the second quarter valued at about $204,768,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Duolingo by 23.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock worth $14,005,000 after purchasing an additional 12,860 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Duolingo by 73.6% during the 1st 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. Vanguard Group Inc. lifted its holdings in shares of Duolingo by 2.0% during the 1st 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. Finally, State of Michigan Retirement System acquired a new position in Duolingo in the second quarter worth approximately $1,857,000. 91.59% of the stock is currently owned by institutional investors.

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.