Piper Sandler Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

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

A number of other research analysts have also recently issued reports on DUOL. The Goldman Sachs Group lifted their price objective on shares of Duolingo from $198.00 to $250.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Wolfe Research started coverage on Duolingo in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Evercore ISI raised Duolingo to a “strong-buy” rating in a research note on Monday, August 5th. UBS Group raised their target price on Duolingo from $225.00 to $355.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Needham & Company LLC upped their price target on Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.44.

Duolingo Stock Up 3.5 %

DUOL stock opened at $326.89 on Thursday. The stock’s 50 day simple moving average is $270.84 and its 200 day simple moving average is $221.61. The company has a market cap of $14.23 billion, a P/E ratio of 178.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $330.61.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. Duolingo had a return on equity of 12.20% and a net margin of 12.59%. The company had revenue of $192.59 million for the quarter, compared to analyst estimates of $189.19 million. During the same period in the prior year, the firm earned $0.06 earnings per share. Duolingo’s revenue for the quarter was up 39.9% on a year-over-year basis. On average, research analysts expect 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 17,591 shares of Duolingo stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the sale, the chief financial officer now directly owns 88,856 shares in the company, valued at $18,417,183.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Matthew Skaruppa sold 17,591 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total transaction of $470,040.00. Following the completion of the transaction, the insider now owns 136,760 shares in the company, valued at approximately $42,855,113.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,374 shares of company stock worth $15,802,382 in the last quarter. 18.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Duolingo

Several institutional investors and hedge funds have recently bought and sold shares of DUOL. Dragoneer Investment Group LLC bought a new stake in shares of Duolingo in the second quarter valued at $204,768,000. International Assets Investment Management LLC increased its holdings in Duolingo by 30,909.9% in the 3rd quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock worth $100,135,000 after acquiring an additional 353,918 shares during the last quarter. Whale Rock Capital Management LLC raised its stake in Duolingo by 23.9% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after acquiring an additional 245,599 shares during the period. Bank of New York Mellon Corp lifted its holdings in Duolingo by 153.1% during the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock valued at $82,450,000 after purchasing an additional 238,990 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Duolingo by 73.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock worth $80,459,000 after purchasing an additional 154,659 shares during the period. 91.59% of the stock is owned by 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.