JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

Duolingo (NASDAQ:DUOL - Get Free Report) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $303.00 to $360.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 13.99% from the company's current price.

A number of other brokerages have also issued reports on DUOL. The Goldman Sachs Group lifted their target price on shares of Duolingo from $250.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday. Needham & Company LLC lifted their price objective on Duolingo from $310.00 to $370.00 and gave the company a "buy" rating in a research report on Thursday. DA Davidson reaffirmed a "buy" rating and issued a $250.00 target price on shares of Duolingo in a research report on Tuesday, September 10th. Wolfe Research began coverage on Duolingo in a report on Tuesday, July 16th. They set a "peer perform" rating for the company. Finally, Bank of America boosted their price target on Duolingo from $292.00 to $298.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Duolingo currently has a consensus rating of "Moderate Buy" and a consensus price target of $325.44.

Duolingo Stock Down 1.0 %

NASDAQ:DUOL traded down $3.03 during trading hours on Thursday, hitting $315.82. 1,225,844 shares of the company's stock traded hands, compared to its average volume of 702,397. The stock's fifty day moving average price is $266.39 and its two-hundred day moving average price is $220.10. The firm has a market cap of $13.75 billion, a P/E ratio of 224.80 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. Duolingo has a twelve month low of $145.05 and a twelve month high of $324.00.

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

Insider Transactions at Duolingo

In related news, insider Natalie Glance sold 1,500 shares of Duolingo 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 transaction, the insider now owns 139,760 shares in the company, valued at $29,001,597.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, General Counsel Stephen C. Chen sold 19,464 shares of the firm's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the sale, the general counsel now owns 35,558 shares in the company, valued at approximately $7,522,294.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Natalie Glance sold 1,500 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.51, for a total transaction of $311,265.00. Following the transaction, the insider now owns 139,760 shares of the company's stock, valued at approximately $29,001,597.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,374 shares of company stock worth $15,802,382. 18.30% of the stock is owned by insiders.

Institutional Trading of Duolingo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dragoneer Investment Group LLC acquired a new stake in shares of Duolingo during the 2nd quarter worth approximately $204,768,000. Teachers Retirement System of The State of Kentucky increased its holdings in Duolingo by 23.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company's stock valued at $14,005,000 after buying an additional 12,860 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Duolingo by 73.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company's stock valued at $80,459,000 after buying an additional 154,659 shares during the period. Vanguard Group Inc. raised its stake in shares of Duolingo by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company's stock valued at $747,200,000 after buying an additional 67,004 shares in the last quarter. Finally, State of Michigan Retirement System bought a new position in shares of Duolingo during the 2nd quarter worth about $1,857,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.