JPMorgan Chase & Co. Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its price target hoisted by JPMorgan Chase & Co. from $303.00 to $360.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on DUOL. Piper Sandler increased their price objective on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group lifted their price target on shares of Duolingo from $225.00 to $355.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Needham & Company LLC raised their price objective on Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday. Wolfe Research began coverage on Duolingo in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Evercore ISI raised Duolingo to a “strong-buy” rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $325.44.

Duolingo Stock Performance

Shares of Duolingo stock traded up $11.07 on Thursday, hitting $326.89. 682,468 shares of the company’s stock were exchanged, compared to its average volume of 702,307. The company has a 50-day simple moving average of $268.56 and a 200-day simple moving average of $220.76. Duolingo has a 1 year low of $145.05 and a 1 year high of $330.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. The stock has a market capitalization of $14.23 billion, a PE ratio of 225.59 and a beta of 0.79.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The company had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $189.19 million. Duolingo’s revenue for the quarter was up 39.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 EPS. As a group, equities analysts anticipate that Duolingo will post 1.87 EPS for the current year.

Insiders Place Their Bets

In other news, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.51, for a total value of $311,265.00. Following the sale, the insider now directly owns 139,760 shares in the company, valued at approximately $29,001,597.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Matthew Skaruppa sold 17,591 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total value of $3,646,086.57. Following the sale, the chief financial officer now owns 88,856 shares in the company, valued at $18,417,183.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the completion of the transaction, the insider now owns 139,760 shares of the company’s stock, valued at approximately $29,001,597.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,374 shares of company stock valued at $15,802,382 over the last 90 days. Insiders own 18.30% of the company’s stock.

Institutional Trading of Duolingo

Several institutional investors have recently bought and sold shares of DUOL. Duality Advisers LP acquired a new stake in Duolingo in the 1st quarter valued at $287,000. SG Americas Securities LLC grew its position in shares of Duolingo by 261.8% in the first quarter. SG Americas Securities LLC now owns 3,640 shares of the company’s stock valued at $803,000 after purchasing an additional 2,634 shares during the period. Swiss National Bank increased its stake in shares of Duolingo by 1.3% during the first quarter. Swiss National Bank now owns 60,100 shares of the company’s stock worth $13,257,000 after purchasing an additional 800 shares in the last quarter. Headlands Technologies LLC lifted its stake in Duolingo by 19.8% in the 1st quarter. Headlands Technologies LLC now owns 767 shares of the company’s stock valued at $169,000 after buying an additional 127 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Duolingo during the 1st quarter worth approximately $528,000. 91.59% of the stock is 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.