Piper Sandler Raises Duolingo (NASDAQ:DUOL) Price Target to $390.00

Duolingo (NASDAQ:DUOL) had its price objective upped by Piper Sandler from $351.00 to $390.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 24.97% from the company’s current price.

Other equities analysts have also issued research reports about the company. Needham & Company LLC raised their price objective on Duolingo from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Friday. Scotiabank started coverage on Duolingo in a report on Thursday, December 5th. They set a “sector outperform” rating and a $425.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Duolingo from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. The Goldman Sachs Group raised their price objective on Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, DA Davidson raised their price objective on Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $369.09.

Duolingo Stock Down 17.0 %

Duolingo stock opened at $312.07 on Friday. Duolingo has a 1-year low of $145.05 and a 1-year high of $441.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. The stock has a market cap of $13.73 billion, a PE ratio of 170.53 and a beta of 0.89. The stock’s fifty day moving average is $359.71 and its two-hundred day moving average is $310.97.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.19). The business had revenue of $209.55 million during the quarter, compared to analyst estimates of $205.49 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. On average, sell-side analysts expect that Duolingo will post 2.03 EPS for the current fiscal year.

Insider Activity at Duolingo

In other Duolingo news, insider Severin Hacker sold 188,901 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $339.54, for a total transaction of $64,139,445.54. Following the transaction, the insider now owns 72 shares in the company, valued at approximately $24,446.88. The trade was a 99.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $369.33, for a total value of $553,995.00. Following the transaction, the insider now owns 132,239 shares in the company, valued at $48,839,829.87. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 305,639 shares of company stock worth $105,445,057 in the last quarter. Company insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC acquired a new position in Duolingo during the 4th quarter worth approximately $1,994,000. Lecap Asset Management Ltd. acquired a new position in Duolingo during the 4th quarter worth approximately $429,000. Charles Schwab Investment Management Inc. increased its position in Duolingo by 42.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company’s stock worth $96,530,000 after purchasing an additional 101,653 shares during the period. Lisanti Capital Growth LLC increased its position in Duolingo by 17.8% during the 3rd quarter. Lisanti Capital Growth LLC now owns 11,645 shares of the company’s stock worth $3,284,000 after purchasing an additional 1,760 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in Duolingo during the 3rd quarter worth approximately $4,350,000. Institutional investors and hedge funds 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.