JPMorgan Chase & Co. Increases Duolingo (NASDAQ:DUOL) Price Target to $303.00

Duolingo (NASDAQ:DUOL) had its price target boosted by research analysts at JPMorgan Chase & Co. from $255.00 to $303.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 9.01% from the stock’s previous close.

Several other research firms have also commented on DUOL. Evercore ISI raised shares of Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. Barclays cut their target price on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. JMP Securities increased their target price on shares of Duolingo from $260.00 to $275.00 and gave the company a “market outperform” rating in a research note on Wednesday. DA Davidson reissued a “buy” rating and set a $250.00 target price on shares of Duolingo in a research note on Tuesday, September 10th. Finally, Bank of America increased their target price on shares of Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.50.

Duolingo Trading Down 3.3 %

Duolingo stock opened at $277.96 on Wednesday. The firm has a 50 day simple moving average of $206.15 and a 200-day simple moving average of $205.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28. The stock has a market capitalization of $11.99 billion, a PE ratio of 286.56 and a beta of 0.76. Duolingo has a 12-month low of $140.16 and a 12-month high of $297.56.

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 the consensus estimate of $0.32 by $0.19. The business had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $177.13 million. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The business’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the firm posted $0.08 earnings per share. As a group, equities research analysts expect that Duolingo will post 1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert Meese sold 5,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $285.04, for a total transaction of $1,425,200.00. Following the transaction, the insider now owns 142,053 shares in the company, valued at approximately $40,490,787.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Duolingo news, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the sale, the insider now directly owns 139,760 shares in the company, valued at approximately $29,001,597.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Meese sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total transaction of $1,425,200.00. Following the completion of the sale, the insider now owns 142,053 shares in the company, valued at $40,490,787.12. The disclosure for this sale can be found here. Insiders sold a total of 106,374 shares of company stock worth $22,019,727 in the last quarter. 18.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Duolingo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new stake in Duolingo in the 2nd quarter worth $31,000. Blue Trust Inc. bought a new position in shares of Duolingo during the 2nd quarter worth about $32,000. GAMMA Investing LLC lifted its holdings in shares of Duolingo by 350.0% during the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after acquiring an additional 133 shares during the period. Mark Sheptoff Financial Planning LLC bought a new position in shares of Duolingo during the 2nd quarter worth about $36,000. Finally, Fifth Third Bancorp bought a new position in shares of Duolingo during the 2nd quarter worth about $40,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.