Duolingo (NASDAQ:DUOL) Sets New 12-Month High – Here’s Why

Duolingo, Inc. (NASDAQ:DUOL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $312.21 and last traded at $311.07, with a volume of 30476 shares. The stock had previously closed at $303.00.

Analysts Set New Price Targets

Several research firms have issued reports on DUOL. UBS Group raised their price target on shares of Duolingo from $225.00 to $355.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $271.00 target price on shares of Duolingo in a research note on Friday, August 30th. JPMorgan Chase & Co. boosted their price target on Duolingo from $255.00 to $303.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Wolfe Research initiated coverage on Duolingo in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, JMP Securities lowered Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.22.

Duolingo Stock Up 5.2 %

The firm’s 50-day moving average price is $264.07 and its 200-day moving average price is $219.40. 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 company has a market cap of $13.88 billion, a price-to-earnings ratio of 222.31 and a beta of 0.79.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.32 by $0.19. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The company had revenue of $178.30 million for the quarter, compared to analyst estimates of $177.13 million. During the same period last year, the company posted $0.08 earnings per share. The firm’s revenue was up 40.6% compared to the same quarter last year. Sell-side analysts forecast that Duolingo, Inc. will post 1.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction on Monday, October 7th. The shares were sold at an average price of $280.91, for a total transaction of $421,365.00. Following the sale, the insider now owns 138,260 shares of the company’s stock, valued at $38,838,616.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Robert Meese sold 4,819 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $240.02, for a total transaction of $1,156,656.38. Following the completion of the transaction, the insider now directly owns 157,053 shares in the company, valued at approximately $37,695,861.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction on Monday, October 7th. The stock was sold at an average price of $280.91, for a total transaction of $421,365.00. Following the completion of the sale, the insider now owns 138,260 shares of the company’s stock, valued at approximately $38,838,616.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,874 shares of company stock worth $15,332,342 in the last 90 days. 18.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC acquired a new stake in shares of Duolingo during the 2nd quarter valued at approximately $31,000. Blue Trust Inc. acquired a new stake in shares of Duolingo during the second quarter worth $32,000. GAMMA Investing LLC lifted its position in shares of Duolingo by 350.0% in the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after buying an additional 133 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Duolingo in the 2nd quarter valued at about $36,000. Finally, Farther Finance Advisors LLC grew its position in shares of Duolingo by 164.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock valued at $36,000 after buying an additional 79 shares during the last quarter. 91.59% of the stock is 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.