DA Davidson Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its price target hoisted by DA Davidson from $400.00 to $410.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

DUOL has been the topic of a number of other reports. Needham & Company LLC raised their price objective on shares of Duolingo from $385.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 28th. Bank of America downgraded Duolingo from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $375.00 in a report on Wednesday, December 11th. Jefferies Financial Group initiated coverage on Duolingo in a report on Friday, January 24th. They issued a “hold” rating and a $370.00 price objective on the stock. UBS Group set a $400.00 target price on Duolingo in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Duolingo from $400.00 to $410.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Duolingo has an average rating of “Moderate Buy” and a consensus target price of $377.08.

Duolingo Stock Up 0.5 %

Duolingo stock opened at $332.94 on Thursday. The firm has a market capitalization of $15.06 billion, a P/E ratio of 181.94 and a beta of 0.92. The stock’s fifty day simple moving average is $348.46 and its 200-day simple moving average is $322.38. Duolingo has a twelve month low of $145.05 and a twelve month high of $441.77. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The company had revenue of $209.55 million during the quarter, compared to analysts’ expectations of $205.49 million. As a group, equities analysts expect that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Matthew Skaruppa sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $324.48, for a total value of $1,622,400.00. Following the transaction, the chief financial officer now owns 67,730 shares in the company, valued at $21,977,030.40. The trade was a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Meese sold 5,351 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $320.02, for a total value of $1,712,427.02. Following the sale, the insider now directly owns 133,805 shares of the company’s stock, valued at $42,820,276.10. The trade was a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,850 shares of company stock valued at $34,389,695. Insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Several institutional investors have recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in shares of Duolingo during the third quarter worth about $26,000. Quarry LP increased its position in Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company’s stock worth $30,000 after purchasing an additional 65 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Duolingo during the 4th quarter worth approximately $31,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Duolingo by 5,050.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock valued at $33,000 after buying an additional 101 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Duolingo by 1,255.6% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock valued at $40,000 after buying an additional 113 shares during the period. 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.