Argus Initiates Coverage on Duolingo (NASDAQ:DUOL)

Research analysts at Argus started coverage on shares of Duolingo (NASDAQ:DUOL) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $575.00 price target on the stock. Argus’ price target points to a potential upside of 44.23% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Needham & Company LLC lifted their price target on shares of Duolingo from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. DA Davidson raised their price objective on shares of Duolingo from $470.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Citizens Jmp upgraded shares of Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 price objective on the stock in a report on Tuesday, March 18th. The Goldman Sachs Group raised their price objective on shares of Duolingo from $340.00 to $403.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Finally, Barclays raised their price objective on shares of Duolingo from $330.00 to $375.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $443.53.

Duolingo Price Performance

Shares of DUOL stock opened at $398.66 on Wednesday. Duolingo has a 52-week low of $145.05 and a 52-week high of $544.93. The stock has a market cap of $18.12 billion, a PE ratio of 196.39, a PEG ratio of 3.05 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.68 and a current ratio of 2.68. The firm’s 50 day moving average price is $471.15 and its two-hundred day moving average price is $384.34.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.20. Duolingo had a net margin of 11.93% and a return on equity of 11.70%. The firm had revenue of $230.74 million for the quarter, compared to analysts’ expectations of $223.15 million. The firm’s revenue was up 37.6% on a year-over-year basis. As a group, analysts forecast that Duolingo will post 2.03 EPS for the current year.

Insider Activity

In related news, CEO Ahn Luis Von sold 8,000 shares of Duolingo stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $327.41, for a total transaction of $2,619,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $471.20, for a total transaction of $4,712,000.00. Following the sale, the insider now directly owns 72 shares of the company’s stock, valued at $33,926.40. The trade was a 99.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,482 shares of company stock valued at $30,373,992 in the last quarter. Company insiders own 15.67% of the company’s stock.

Institutional Trading of Duolingo

Several hedge funds and other institutional investors have recently modified their holdings of DUOL. Contravisory Investment Management Inc. bought a new stake in shares of Duolingo during the 1st quarter worth about $25,000. Rise Advisors LLC boosted its holdings in shares of Duolingo by 43.6% during the 1st quarter. Rise Advisors LLC now owns 79 shares of the company’s stock worth $25,000 after buying an additional 24 shares during the period. Summit Securities Group LLC bought a new stake in shares of Duolingo during the 1st quarter worth about $28,000. Quarry LP boosted its holdings in shares of Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company’s stock worth $30,000 after buying an additional 65 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in shares of Duolingo by 4,750.0% during the 1st quarter. Brooklyn Investment Group now owns 97 shares of the company’s stock worth $30,000 after buying an additional 95 shares during the period. Institutional investors 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.