Duolingo (NASDAQ:DUOL) Price Target Lowered to $500.00 at DA Davidson

Duolingo (NASDAQ:DUOL) had its price objective lowered by DA Davidson from $600.00 to $500.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target points to a potential upside of 25.42% from the stock’s current price.

DUOL has been the subject of several other research reports. The Goldman Sachs Group boosted their price objective on shares of Duolingo from $340.00 to $403.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Needham & Company LLC raised their price target on Duolingo from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Citizens Jmp raised Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 price target on the stock in a research report on Tuesday, March 18th. Evercore ISI upped their price target on shares of Duolingo from $400.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Duolingo from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $443.53.

Duolingo Stock Up 0.2%

Shares of NASDAQ DUOL opened at $398.66 on Wednesday. The business has a 50-day moving average of $471.15 and a two-hundred day moving average of $384.34. The company has a market capitalization of $18.12 billion, a price-to-earnings ratio of 196.39, a price-to-earnings-growth ratio of 3.05 and a beta of 1.00. Duolingo has a 1 year low of $145.05 and a 1 year high of $544.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.68 and a quick ratio of 2.68.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.20. The business had revenue of $230.74 million for the quarter, compared to analyst estimates of $223.15 million. Duolingo had a return on equity of 11.70% and a net margin of 11.93%. The business’s revenue for the quarter was up 37.6% compared to the same quarter last year. On average, analysts forecast that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at Duolingo

In other news, insider Natalie Glance sold 3,482 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $319.59, for a total value of $1,112,812.38. Following the completion of the sale, the insider now directly owns 127,251 shares of the company’s stock, valued at $40,668,147.09. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $292.43, for a total value of $2,924,300.00. Following the completion of the sale, the insider now owns 72 shares in the company, valued at approximately $21,054.96. This trade represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,482 shares of company stock worth $30,373,992 over the last ninety days. 15.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DUOL. FMR LLC raised its holdings in Duolingo by 39.9% during the fourth quarter. FMR LLC now owns 3,726,561 shares of the company’s stock worth $1,208,263,000 after purchasing an additional 1,063,327 shares during the last quarter. Vanguard Group Inc. increased its holdings in Duolingo by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,542,194 shares of the company’s stock valued at $1,148,486,000 after acquiring an additional 70,705 shares in the last quarter. Invesco Ltd. raised its position in Duolingo by 24.1% during the first quarter. Invesco Ltd. now owns 1,346,278 shares of the company’s stock worth $418,073,000 after acquiring an additional 261,212 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Duolingo by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company’s stock worth $434,398,000 after purchasing an additional 10,638 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Duolingo by 110.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company’s stock valued at $307,716,000 after buying an additional 520,069 shares in the last quarter. 91.59% of the stock is 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.