Needham & Company LLC Increases Duolingo (NASDAQ:DUOL) Price Target to $370.00

Duolingo (NASDAQ:DUOL - Get Free Report) had its target price hoisted by analysts at Needham & Company LLC from $310.00 to $370.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 16.85% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the company. Piper Sandler restated an "overweight" rating and set a $271.00 price objective on shares of Duolingo in a report on Friday, August 30th. JPMorgan Chase & Co. boosted their price objective on shares of Duolingo from $255.00 to $303.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Wolfe Research initiated coverage on Duolingo in a report on Tuesday, July 16th. They issued a "peer perform" rating for the company. DA Davidson restated a "buy" rating and issued a $250.00 price objective on shares of Duolingo in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group lifted their price objective on Duolingo from $198.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $325.44.

Duolingo Stock Down 0.7 %

NASDAQ:DUOL traded down $2.20 during mid-day trading on Thursday, hitting $316.65. 1,002,455 shares of the company's stock were exchanged, compared to its average volume of 701,112. The business has a fifty day moving average price of $266.39 and a 200 day moving average price of $220.10. The company has a market cap of $13.79 billion, a PE ratio of 224.80 and a beta of 0.79. Duolingo has a one year low of $145.05 and a one year high of $324.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28.

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

Insider Buying and Selling

In other Duolingo news, General Counsel Stephen C. Chen sold 19,464 shares of the company's stock in a transaction on Friday, August 30th. The stock was 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 of the company's stock, valued at approximately $7,522,294.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total value of $3,646,086.57. Following the completion of the transaction, the chief financial officer now owns 88,856 shares in the company, valued at $18,417,183.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stephen C. Chen sold 19,464 shares of the business's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the completion of the transaction, the general counsel now owns 35,558 shares in the company, valued at $7,522,294.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,874 shares of company stock worth $15,332,342 in the last quarter. Company insiders own 18.30% of the company's stock.

Institutional Trading of Duolingo

A number of hedge funds and other institutional investors have recently modified their holdings of DUOL. Larson Financial Group LLC acquired a new position in shares of Duolingo in the 2nd quarter valued at approximately $31,000. Blue Trust Inc. bought a new stake in shares of Duolingo in the 2nd quarter worth about $32,000. GAMMA Investing LLC raised its stake in shares of Duolingo by 350.0% in the 2nd quarter. GAMMA Investing LLC now owns 171 shares of the company's stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in shares of Duolingo during the second quarter worth about $36,000. Finally, Farther Finance Advisors LLC increased its holdings in Duolingo by 164.6% in the third quarter. Farther Finance Advisors LLC now owns 127 shares of the company's stock valued at $36,000 after buying an additional 79 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other 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.