Duolingo (NASDAQ:DUOL) Price Target Raised to $351.00 at Piper Sandler

Duolingo (NASDAQ:DUOL) had its target price hoisted by Piper Sandler from $271.00 to $351.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also recently commented on the stock. Needham & Company LLC raised 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. JMP Securities lowered Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Wolfe Research initiated coverage on Duolingo in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Bank of America increased their price objective on Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Duolingo from $255.00 to $303.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Duolingo has an average rating of “Moderate Buy” and a consensus target price of $325.44.

Duolingo Trading Up 3.5 %

Shares of DUOL traded up $11.07 during trading on Thursday, reaching $326.89. 682,468 shares of the company traded hands, compared to its average volume of 702,307. The stock has a 50-day simple moving average of $268.56 and a 200-day simple moving average of $220.76. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07. Duolingo has a twelve month low of $145.05 and a twelve month high of $330.61. The stock has a market cap of $14.23 billion, a PE ratio of 225.59 and a beta of 0.79.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. The business had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The company’s revenue was up 39.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, analysts anticipate that Duolingo will post 1.87 earnings per share for the current year.

Insider Buying and Selling at Duolingo

In related news, CFO Matthew Skaruppa sold 17,591 shares of Duolingo stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total value of $3,646,086.57. Following the completion of the sale, the chief financial officer now owns 88,856 shares in the company, valued at approximately $18,417,183.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Matthew Skaruppa sold 17,591 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total value of $3,646,086.57. Following the completion of the transaction, the chief financial officer now owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Stephen C. Chen sold 19,464 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the completion of the sale, the general counsel now directly owns 35,558 shares of the company’s stock, valued at $7,522,294.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,374 shares of company stock valued at $15,802,382 in the last three months. Corporate insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Several hedge funds have recently made changes to their positions in DUOL. Larson Financial Group LLC bought a new position in Duolingo during the second quarter worth $31,000. Blue Trust Inc. bought a new position in Duolingo in the 2nd quarter valued at $32,000. GAMMA Investing LLC raised its position in shares of Duolingo by 350.0% during the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after acquiring an additional 133 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Duolingo during the second quarter valued at $36,000. Finally, Farther Finance Advisors LLC increased its position in Duolingo by 164.6% in the third quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock worth $36,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds 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.