Duolingo (NASDAQ:DUOL) Lowered to "Neutral" Rating by Bank of America

Bank of America cut shares of Duolingo (NASDAQ:DUOL - Free Report) from a buy rating to a neutral rating in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have $375.00 target price on the stock, up from their previous target price of $355.00.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Duolingo from $250.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on Duolingo from $303.00 to $360.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Piper Sandler upped their price target on Duolingo from $271.00 to $351.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Scotiabank initiated coverage on Duolingo in a report on Thursday, December 5th. They issued a "sector outperform" rating and a $425.00 price objective for the company. Finally, JMP Securities cut shares of Duolingo from an "outperform" rating to a "market perform" rating in a research note on Monday, October 14th. Six investment 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. Based on data from MarketBeat.com, Duolingo presently has a consensus rating of "Moderate Buy" and an average price target of $348.40.

Duolingo Stock Down 4.8 %

NASDAQ:DUOL traded down $17.47 during mid-day trading on Wednesday, hitting $344.35. 1,226,602 shares of the company's stock were exchanged, compared to its average volume of 690,775. Duolingo has a one year low of $145.05 and a one year high of $378.48. The business has a fifty day moving average price of $313.97 and a 200 day moving average price of $242.95. The company has a market cap of $15.15 billion, a PE ratio of 182.26 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.14. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The company had revenue of $192.59 million during the quarter, compared to analyst estimates of $189.19 million. During the same quarter last year, the company earned $0.06 EPS. The firm's revenue for the quarter was up 39.9% on a year-over-year basis. Equities analysts predict that Duolingo will post 2.02 EPS for the current year.

Insiders Place Their Bets

In other news, insider Natalie Glance sold 1,500 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $48,839,829.87. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Meese sold 5,000 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $270.00, for a total value of $1,350,000.00. Following the transaction, the insider now owns 147,053 shares of the company's stock, valued at approximately $39,704,310. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,319 shares of company stock worth $5,377,256. Company insiders own 18.30% of the company's stock.

Hedge Funds Weigh In On Duolingo

A number of hedge funds have recently made changes to their positions in the business. Tidal Investments LLC grew its holdings in Duolingo by 8.0% during 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 in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Duolingo during the 3rd quarter valued at about $199,000. Geode Capital Management LLC increased its holdings in shares of Duolingo by 2.5% in the third quarter. Geode Capital Management LLC now owns 672,800 shares of the company's stock worth $189,790,000 after purchasing an additional 16,481 shares during the last quarter. Barclays PLC increased its holdings in shares of Duolingo by 90.9% in the third quarter. Barclays PLC now owns 42,613 shares of the company's stock worth $12,018,000 after purchasing an additional 20,289 shares during the last quarter. Finally, MML Investors Services LLC purchased a new stake in shares of Duolingo in the third quarter worth about $1,301,000. 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.