JPMorgan Chase & Co. Increases Duolingo (NASDAQ:DUOL) Price Target to $360.00

Duolingo (NASDAQ:DUOL) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $303.00 to $360.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 10.13% from the stock’s current price.

DUOL has been the topic of a number of other reports. Piper Sandler lifted their price objective on Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group increased their price objective on Duolingo from $225.00 to $355.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Wolfe Research initiated coverage on shares of Duolingo in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Needham & Company LLC raised their price target on shares of Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Bank of America upped their price objective on shares of Duolingo from $292.00 to $298.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Duolingo has a consensus rating of “Moderate Buy” and a consensus target price of $325.44.

Duolingo Price Performance

NASDAQ DUOL opened at $326.89 on Thursday. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $330.61. The stock’s 50-day moving average is $270.84 and its two-hundred day moving average is $221.60. The firm has a market cap of $14.23 billion, a P/E ratio of 233.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28.

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

Insider Activity

In related 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 stock was sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the completion of the transaction, the general counsel now owns 35,558 shares in the company, valued at $7,522,294.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the sale, the insider now owns 139,760 shares in the company, valued at approximately $29,001,597.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen C. Chen sold 19,464 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the sale, the general counsel now owns 35,558 shares of the company’s stock, valued at $7,522,294.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,374 shares of company stock worth $15,802,382. Company insiders own 18.30% of the company’s stock.

Institutional Trading of Duolingo

Several large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new position in shares of Duolingo in the 3rd quarter worth approximately $29,000. Larson Financial Group LLC acquired a new position in Duolingo in the second quarter worth $31,000. Blue Trust Inc. acquired a new position in Duolingo in the second quarter worth $32,000. GAMMA Investing LLC grew its holdings in shares of Duolingo by 350.0% during the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Duolingo in the second quarter valued at $36,000. 91.59% of the stock is owned by 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.