Duolingo (NASDAQ:DUOL) Price Target Raised to $385.00 at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its price objective hoisted by Needham & Company LLC from $370.00 to $385.00 in a report issued on Thursday, MarketBeat reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages have also commented on DUOL. Seaport Res Ptn lowered shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. UBS Group upped their target price on Duolingo from $355.00 to $408.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group boosted their price target on Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler increased their price objective on Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, DA Davidson lifted their target price on Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $353.90.

Duolingo Price Performance

NASDAQ:DUOL opened at $342.12 on Thursday. Duolingo has a 12-month low of $145.05 and a 12-month high of $378.48. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 186.95 and a beta of 0.85. The stock’s 50 day moving average price is $322.88 and its two-hundred day moving average price is $250.55. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results 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. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business had revenue of $192.59 million during the quarter, compared to the consensus estimate of $189.19 million. During the same quarter last year, the firm posted $0.06 EPS. The company’s quarterly revenue was up 39.9% on a year-over-year basis. On average, analysts anticipate that Duolingo will post 2.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $280.91, for a total transaction of $421,365.00. Following the sale, the insider now owns 138,260 shares in the company, valued at approximately $38,838,616.60. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $336.82, for a total transaction of $3,368,200.00. Following the transaction, the insider now owns 72 shares of the company’s stock, valued at approximately $24,251.04. This represents a 99.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,160 shares of company stock worth $84,588,416 over the last ninety days. Corporate insiders own 18.30% of the company’s stock.

Institutional Trading of Duolingo

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC bought a new position in shares of Duolingo in the third quarter worth about $26,000. First Horizon Advisors Inc. bought a new stake in shares of Duolingo during the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new position in Duolingo during the 2nd quarter worth approximately $31,000. Blue Trust Inc. bought a new position in Duolingo in the 2nd quarter valued at approximately $32,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Duolingo in the second quarter valued at approximately $36,000. 91.59% of the stock is currently owned by institutional investors.

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.