Piper Sandler Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its target price hoisted by investment analysts at Piper Sandler from $271.00 to $351.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 10.08% from the company’s previous close.

Several other equities analysts also recently commented on the company. Bank of America upped their target price on Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Wolfe Research started coverage on Duolingo in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. DA Davidson reissued a “buy” rating and issued a $250.00 target price on shares of Duolingo in a research report on Tuesday, September 10th. Needham & Company LLC lifted their price objective on shares of Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, UBS Group increased their target price on shares of Duolingo from $225.00 to $355.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Four 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.78.

Duolingo Stock Up 5.2 %

Shares of DUOL stock opened at $318.85 on Thursday. The firm’s fifty day moving average price is $266.39 and its two-hundred day moving average price is $220.10. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. Duolingo has a 1 year low of $145.05 and a 1 year high of $319.44. The firm has a market capitalization of $13.88 billion, a P/E ratio of 227.75 and a beta of 0.79.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.19. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The company had revenue of $178.30 million for the quarter, compared to analyst estimates of $177.13 million. During the same period in the previous year, the business earned $0.08 EPS. Duolingo’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities analysts predict that Duolingo will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling at Duolingo

In other news, CFO Matthew Skaruppa sold 17,591 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the completion of the transaction, the chief financial officer now owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Stephen C. Chen sold 19,464 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the sale, the general counsel now directly owns 35,558 shares in the company, valued at approximately $7,522,294.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Skaruppa sold 17,591 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the completion of the transaction, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,874 shares of company stock valued at $15,332,342. 18.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Duolingo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Duality Advisers LP acquired a new stake in shares of Duolingo during the 1st quarter valued at $287,000. SG Americas Securities LLC increased its stake 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 buying an additional 2,634 shares during the period. Swiss National Bank raised its holdings in Duolingo by 1.3% in the 1st quarter. Swiss National Bank now owns 60,100 shares of the company’s stock valued at $13,257,000 after buying an additional 800 shares during the last quarter. Headlands Technologies LLC boosted its position in Duolingo by 19.8% during the 1st quarter. Headlands Technologies LLC now owns 767 shares of the company’s stock worth $169,000 after buying an additional 127 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in Duolingo during the 1st quarter worth approximately $528,000. 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.