Duolingo (NASDAQ:DUOL) Raised to Outperform at Citizens Jmp

Duolingo (NASDAQ:DUOL) was upgraded by research analysts at Citizens Jmp from a “market perform” rating to an “outperform” rating in a report released on Tuesday,Finviz reports. The firm currently has a $400.00 price target on the stock. Citizens Jmp’s target price points to a potential upside of 35.97% from the company’s previous close.

Several other brokerages have also recently issued reports on DUOL. Needham & Company LLC upped their target price on shares of Duolingo from $385.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 28th. The Goldman Sachs Group upped their target price on shares of Duolingo from $275.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Piper Sandler upped their target price on shares of Duolingo from $351.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group began coverage on shares of Duolingo in a report on Friday, January 24th. They issued a “hold” rating and a $370.00 target price for the company. Finally, Barclays upped their target price on shares of Duolingo from $295.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Duolingo currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.08.

Duolingo Trading Up 3.8 %

Shares of NASDAQ:DUOL opened at $294.18 on Tuesday. Duolingo has a 52 week low of $145.05 and a 52 week high of $441.77. The company’s 50 day moving average is $349.18 and its two-hundred day moving average is $317.89. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The company has a market cap of $13.31 billion, a PE ratio of 160.75 and a beta of 0.92.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm had revenue of $209.55 million during the quarter, compared to analysts’ expectations of $205.49 million. Equities analysts predict that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Duolingo news, insider Natalie Glance sold 2,667 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total transaction of $1,160,891.76. Following the completion of the transaction, the insider now owns 129,572 shares in the company, valued at approximately $56,400,100.16. This represents a 2.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ahn Luis Von sold 8,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $321.00, for a total transaction of $2,568,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,499 shares of company stock worth $29,162,568. 18.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Duolingo

A number of large investors have recently bought and sold shares of the company. Kensington Investment Counsel LLC increased its holdings in shares of Duolingo by 0.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 5,633 shares of the company’s stock valued at $1,826,000 after purchasing an additional 30 shares in the last quarter. Lido Advisors LLC increased its holdings in shares of Duolingo by 0.3% in the 4th quarter. Lido Advisors LLC now owns 10,104 shares of the company’s stock valued at $3,276,000 after purchasing an additional 30 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Duolingo by 3.1% in the 3rd quarter. CIBC Asset Management Inc now owns 1,061 shares of the company’s stock valued at $299,000 after purchasing an additional 32 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Duolingo by 3.9% in the 4th quarter. Atria Investments Inc now owns 1,029 shares of the company’s stock valued at $334,000 after purchasing an additional 39 shares in the last quarter. Finally, Lisanti Capital Growth LLC increased its holdings in shares of Duolingo by 0.3% in the 4th quarter. Lisanti Capital Growth LLC now owns 11,685 shares of the company’s stock valued at $3,789,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.