Duolingo (NASDAQ:DUOL) Price Target Raised to $267.00 at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its price objective raised by Needham & Company LLC from $241.00 to $267.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 35.55% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. started coverage on Duolingo in a research note on Monday, March 11th. They issued an “overweight” rating and a $270.00 price target for the company. Seaport Res Ptn restated a “buy” rating on shares of Duolingo in a research note on Tuesday, February 27th. Barclays boosted their price target on Duolingo from $173.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. The Goldman Sachs Group boosted their price target on Duolingo from $160.00 to $190.00 and gave the stock a “sell” rating in a research note on Thursday, February 29th. Finally, Bank of America boosted their price target on Duolingo from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $248.38.

Duolingo Stock Down 19.5 %

NASDAQ:DUOL traded down $47.67 during trading hours on Thursday, reaching $196.97. 958,439 shares of the company traded hands, compared to its average volume of 730,338. The business’s 50-day moving average price is $221.21 and its two-hundred day moving average price is $207.17. The stock has a market capitalization of $8.45 billion, a P/E ratio of 580.46 and a beta of 0.82. Duolingo has a 1 year low of $121.89 and a 1 year high of $251.30. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.03.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.27. The business had revenue of $167.70 million during the quarter, compared to analysts’ expectations of $165.60 million. Duolingo had a return on equity of 2.64% and a net margin of 3.03%. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. Analysts predict that Duolingo will post 1.38 earnings per share for the current year.

Insider Buying and Selling at Duolingo

In other Duolingo news, General Counsel Stephen C. Chen sold 2,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $190.00, for a total transaction of $380,000.00. Following the completion of the sale, the general counsel now owns 35,033 shares of the company’s stock, valued at $6,656,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Duolingo news, General Counsel Stephen C. Chen sold 2,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $190.00, for a total transaction of $380,000.00. Following the completion of the sale, the general counsel now owns 35,033 shares of the company’s stock, valued at $6,656,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Skaruppa sold 8,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $235.18, for a total value of $1,881,440.00. Following the sale, the chief financial officer now directly owns 64,523 shares of the company’s stock, valued at approximately $15,174,519.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,223 shares of company stock valued at $27,273,230. Company insiders own 19.85% of the company’s stock.

Institutional Investors Weigh In On Duolingo

A number of hedge funds have recently made changes to their positions in the company. 9258 Wealth Management LLC lifted its position in shares of Duolingo by 4.4% in the fourth quarter. 9258 Wealth Management LLC now owns 1,529 shares of the company’s stock worth $347,000 after buying an additional 65 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Duolingo by 0.8% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 8,831 shares of the company’s stock worth $2,003,000 after buying an additional 72 shares during the period. Xponance Inc. raised its holdings in shares of Duolingo by 4.8% in the fourth quarter. Xponance Inc. now owns 1,774 shares of the company’s stock worth $402,000 after buying an additional 82 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Duolingo by 6.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 1,686 shares of the company’s stock worth $382,000 after buying an additional 100 shares during the period. Finally, Discovery Value Fund purchased a new stake in shares of Duolingo in the fourth quarter worth approximately $27,000. 91.59% of the stock is currently owned by hedge funds and other 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.