Duolingo (NASDAQ:DUOL) Price Target Lowered to $245.00 at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its target price trimmed by Needham & Company LLC from $267.00 to $245.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. Evercore ISI upgraded Duolingo to a strong-buy rating in a report on Monday, August 5th. Barclays lowered their price target on shares of Duolingo from $243.00 to $230.00 and set an equal weight rating on the stock in a report on Thursday, May 9th. Bank of America raised Duolingo from a neutral rating to a buy rating and set a $245.00 price objective for the company in a report on Friday, July 26th. DA Davidson initiated coverage on Duolingo in a research note on Thursday, June 13th. They issued a buy rating and a $250.00 target price on the stock. Finally, JMP Securities reiterated a market outperform rating and set a $260.00 price target on shares of Duolingo in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Duolingo has an average rating of Moderate Buy and an average price target of $237.40.

Duolingo Stock Performance

Shares of DUOL opened at $187.38 on Thursday. Duolingo has a one year low of $121.89 and a one year high of $251.30. The company has a market cap of $8.08 billion, a PE ratio of 193.18 and a beta of 0.72. The stock has a 50-day moving average of $188.46 and a 200-day moving average of $198.81. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.22 and a quick ratio of 3.22.

Duolingo (NASDAQ:DUOL) last posted its earnings results on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.32 by $0.19. Duolingo had a net margin of 7.82% and a return on equity of 7.08%. The company had revenue of $178.30 million during the quarter, compared to the consensus estimate of $177.13 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. On average, equities research analysts predict that Duolingo will post 1.74 EPS for the current fiscal year.

Insider Transactions at Duolingo

In other Duolingo news, CEO Ahn Luis Von sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $215.00, for a total value of $215,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Severin Hacker sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $198.61, for a total transaction of $1,986,100.00. Following the transaction, the insider now directly owns 72 shares in the company, valued at approximately $14,299.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ahn Luis Von sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $215.00, for a total value of $215,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,198 shares of company stock valued at $8,092,373. 18.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Duolingo by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company’s stock valued at $747,200,000 after purchasing an additional 67,004 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of Duolingo by 23.9% during the first quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after purchasing an additional 245,599 shares during the period. American Century Companies Inc. grew its holdings in shares of Duolingo by 25.1% in the second quarter. American Century Companies Inc. now owns 498,957 shares of the company’s stock worth $104,117,000 after purchasing an additional 100,167 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Duolingo by 153.1% in the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock worth $82,450,000 after buying an additional 238,990 shares during the period. Finally, Norges Bank bought a new stake in Duolingo during the 4th quarter valued at $84,042,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.