Bank of America Raises Duolingo (NASDAQ:DUOL) Price Target to $298.00

Duolingo (NASDAQ:DUOL) had its price target upped by Bank of America from $292.00 to $298.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Evercore ISI upgraded Duolingo to a strong-buy rating in a report on Monday, August 5th. DA Davidson reiterated a buy rating and set a $250.00 target price on shares of Duolingo in a research note on Tuesday, September 10th. Barclays reduced their price target on shares of Duolingo from $230.00 to $183.00 and set an equal weight rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on shares of Duolingo from $275.00 to $255.00 and set an overweight rating for the company in a report on Thursday, August 8th. Finally, JMP Securities increased their price objective on shares of Duolingo from $260.00 to $275.00 and gave the stock a market outperform rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Duolingo presently has an average rating of Moderate Buy and an average target price of $255.50.

Duolingo Trading Up 0.0 %

NASDAQ DUOL opened at $278.03 on Wednesday. The company’s fifty day moving average price is $208.21 and its two-hundred day moving average price is $206.07. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 286.63 and a beta of 0.76. Duolingo has a 12 month low of $140.16 and a 12 month high of $297.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. The business had revenue of $178.30 million during the quarter, compared to the consensus estimate of $177.13 million. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period last year, the firm earned $0.08 earnings per share. As a group, research analysts predict that Duolingo will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Duolingo

In other news, CFO Matthew Skaruppa sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $198.59, for a total transaction of $1,588,720.00. Following the completion of the transaction, the chief financial officer now directly owns 95,731 shares in the company, valued at $19,011,219.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Severin Hacker sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $198.61, for a total transaction of $1,986,100.00. Following the transaction, the insider now owns 72 shares in the company, valued at $14,299.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Skaruppa sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $198.59, for a total value of $1,588,720.00. Following the sale, the chief financial officer now directly owns 95,731 shares in the company, valued at approximately $19,011,219.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,374 shares of company stock worth $22,019,727. 18.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Duolingo

Several hedge funds have recently modified their holdings of the company. 9258 Wealth Management LLC grew its holdings in Duolingo by 4.4% during the fourth quarter. 9258 Wealth Management LLC now owns 1,529 shares of the company’s stock worth $347,000 after acquiring an additional 65 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of Duolingo during the 4th quarter valued at about $211,000. UBS Group AG boosted its position in shares of Duolingo by 76.4% during the 4th quarter. UBS Group AG now owns 35,563 shares of the company’s stock valued at $8,067,000 after purchasing an additional 15,404 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Duolingo by 10.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 11,142 shares of the company’s stock worth $2,528,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in shares of Duolingo in the 4th quarter worth approximately $366,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.