Duolingo (NASDAQ:DUOL) Given New $370.00 Price Target at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its target price boosted by analysts at Needham & Company LLC from $310.00 to $370.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 16.04% from the stock’s previous close.

Several other brokerages also recently weighed in on DUOL. Barclays lowered their price objective on Duolingo from $230.00 to $183.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Duolingo from $255.00 to $303.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Wolfe Research began coverage on shares of Duolingo in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Bank of America increased their target price on shares of Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, UBS Group boosted their price target on Duolingo from $225.00 to $355.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.78.

Duolingo Stock Up 5.2 %

Shares of NASDAQ DUOL opened at $318.85 on Thursday. The stock has a market capitalization of $13.88 billion, a P/E ratio of 227.75 and a beta of 0.79. Duolingo has a one year low of $145.05 and a one year high of $319.44. The firm’s 50 day simple moving average is $266.39 and its two-hundred day simple moving average is $220.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.19. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The business 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. As a group, analysts expect that Duolingo will post 1.87 EPS for the current fiscal year.

Insider Activity at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Duolingo news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $280.91, for a total value of $421,365.00. Following the completion of the transaction, the insider now directly owns 138,260 shares of the company’s stock, valued at approximately $38,838,616.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew Skaruppa sold 17,591 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 88,856 shares in the company, valued at approximately $18,417,183.12. The trade was 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 valued at $15,332,342 in the last three months. Company insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

A number of hedge funds have recently added to or reduced their stakes in DUOL. Farther Finance Advisors LLC increased its holdings in shares of Duolingo by 164.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company’s stock worth $36,000 after purchasing an additional 79 shares in the last quarter. Blue Trust Inc. purchased a new stake in shares of Duolingo during the second quarter valued at $32,000. Larson Financial Group LLC purchased a new stake in shares of Duolingo during the second quarter valued at $31,000. GAMMA Investing LLC raised its position in 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. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Duolingo during the 2nd quarter valued at about $36,000. 91.59% of the stock is currently owned by hedge funds and other 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.