Bank of America Downgrades Duolingo (NASDAQ:DUOL) to Neutral

Duolingo (NASDAQ:DUOL) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Wednesday,Finviz reports. They currently have a $375.00 price target on the stock, up from their prior price target of $355.00. Bank of America‘s price target would suggest a potential upside of 3.64% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. UBS Group boosted their target price on shares of Duolingo from $355.00 to $408.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Scotiabank initiated coverage on shares of Duolingo in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 target price on the stock. DA Davidson boosted their target price on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of Duolingo from $303.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC boosted their target price on shares of Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Duolingo currently has a consensus rating of “Moderate Buy” and a consensus target price of $348.40.

Duolingo Stock Up 0.3 %

DUOL stock opened at $361.83 on Wednesday. The firm has a market cap of $15.91 billion, a PE ratio of 197.72 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The firm’s fifty day moving average is $313.97 and its 200 day moving average is $242.95. Duolingo has a one year low of $145.05 and a one year high of $378.48.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. The business had revenue of $192.59 million for the quarter, compared to the consensus estimate of $189.19 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The company’s revenue was up 39.9% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. On average, research analysts forecast that Duolingo will post 2.02 EPS for the current year.

Insider Buying and Selling

In other Duolingo news, insider Robert Meese sold 4,819 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $240.02, for a total value of $1,156,656.38. Following the sale, the insider now directly owns 157,053 shares of the company’s stock, valued at approximately $37,695,861.06. This represents a 2.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total transaction of $470,040.00. Following the completion of the sale, the insider now directly owns 136,760 shares in the company, valued at approximately $42,855,113.60. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,319 shares of company stock valued at $5,377,256 in the last ninety days. Company insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Tidal Investments LLC grew its position in shares of Duolingo by 8.0% in the 3rd quarter. Tidal Investments LLC now owns 1,561 shares of the company’s stock valued at $440,000 after buying an additional 115 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Duolingo in the 3rd quarter valued at $199,000. Geode Capital Management LLC grew its position in shares of Duolingo by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 672,800 shares of the company’s stock valued at $189,790,000 after buying an additional 16,481 shares during the last quarter. Barclays PLC grew its position in shares of Duolingo by 90.9% in the 3rd quarter. Barclays PLC now owns 42,613 shares of the company’s stock valued at $12,018,000 after buying an additional 20,289 shares during the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of Duolingo in the 3rd quarter valued at $1,301,000. 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.