Scotiabank Begins Coverage on Duolingo (NASDAQ:DUOL)

Investment analysts at Scotiabank assumed coverage on shares of Duolingo (NASDAQ:DUOL) in a report released on Thursday,Briefing.com Automated Import reports. The firm set a “sector outperform” rating and a $425.00 price target on the stock. Scotiabank’s price objective suggests a potential upside of 16.55% from the company’s current price.

A number of other equities research analysts also recently weighed in on DUOL. JMP Securities downgraded Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. DA Davidson raised their price target on Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America raised their price target on Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their price objective on Duolingo from $303.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Seaport Res Ptn lowered Duolingo from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.70.

Duolingo Stock Up 1.0 %

NASDAQ DUOL opened at $364.65 on Thursday. The business has a 50 day moving average price of $305.53 and a two-hundred day moving average price of $236.34. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $370.17. The stock has a market cap of $16.04 billion, a PE ratio of 199.26 and a beta of 0.85. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The company had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was up 39.9% compared to the same quarter last year. As a group, sell-side analysts predict that Duolingo will post 2.02 EPS for the current fiscal year.

Insider Activity at Duolingo

In other Duolingo news, insider Robert Meese sold 5,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $270.00, for a total transaction of $1,350,000.00. Following the sale, the insider now directly owns 147,053 shares of the company’s stock, valued at $39,704,310. The trade was a 3.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.51, for a total transaction of $311,265.00. Following the completion of the sale, the insider now directly owns 139,760 shares in the company, valued at approximately $29,001,597.60. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,319 shares of company stock valued at $5,134,526. 18.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in Duolingo by 26.9% in the 3rd quarter. FMR LLC now owns 2,663,234 shares of the company’s stock valued at $751,085,000 after buying an additional 564,173 shares during the last quarter. State Street Corp boosted its position in shares of Duolingo by 3.6% during the 3rd quarter. State Street Corp now owns 1,076,273 shares of the company’s stock worth $303,530,000 after acquiring an additional 36,923 shares in the last quarter. Dragoneer Investment Group LLC acquired a new stake in shares of Duolingo during the 2nd quarter worth approximately $204,768,000. Geode Capital Management LLC boosted its position in shares of Duolingo by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 672,800 shares of the company’s stock worth $189,790,000 after acquiring an additional 16,481 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Duolingo by 25.1% during the 2nd quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock worth $104,117,000 after acquiring an additional 100,167 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

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.