Duolingo (NASDAQ:DUOL) Rating Lowered to “Neutral” at Bank of America

Duolingo (NASDAQ:DUOL) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat reports. They currently have a $375.00 target price on the stock, up from their previous target price of $355.00. Bank of America‘s price objective indicates a potential upside of 10.45% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. JMP Securities cut shares of Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Barclays raised their target price on shares of Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their target price on Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price target on Duolingo from $303.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Duolingo has an average rating of “Moderate Buy” and a consensus price target of $352.40.

Duolingo Trading Down 1.4 %

Shares of Duolingo stock opened at $339.52 on Wednesday. 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 has a twelve month low of $145.05 and a twelve month high of $378.48. The firm has a market capitalization of $14.93 billion, a PE ratio of 185.53 and a beta of 0.85. The firm’s 50-day moving average price is $316.27 and its 200 day moving average price is $244.33.

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

Insider Activity

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $280.91, for a total transaction of $421,365.00. Following the transaction, the insider now directly owns 138,260 shares in the company, valued at $38,838,616.60. This represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Meese sold 4,819 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $240.02, for a total value of $1,156,656.38. Following the transaction, the insider now directly owns 157,053 shares in the company, valued at approximately $37,695,861.06. The trade was a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,319 shares of company stock valued at $5,377,256 in the last quarter. Insiders own 18.30% of the company’s stock.

Institutional Trading of Duolingo

Several hedge funds have recently modified their holdings of the stock. True Wealth Design LLC purchased a new stake in shares of Duolingo during the 3rd quarter worth $26,000. First Horizon Advisors Inc. acquired a new stake in Duolingo in the third quarter valued at $29,000. Larson Financial Group LLC purchased a new stake in Duolingo during the 2nd quarter worth about $31,000. Blue Trust Inc. acquired a new position in shares of Duolingo during the 2nd quarter worth about $32,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Duolingo in the 2nd quarter valued at about $36,000. 91.59% of the stock is currently 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.