Duolingo (NASDAQ:DUOL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Duolingo (NASDAQ:DUOL - Get Free Report) had its target price boosted by equities research analysts at Piper Sandler from $351.00 to $390.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential upside of 32.59% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Seaport Res Ptn lowered shares of Duolingo from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on Duolingo in a report on Friday, January 24th. They issued a "hold" rating and a $370.00 target price on the stock. DA Davidson upped their price target on Duolingo from $250.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. JMP Securities restated a "market perform" rating on shares of Duolingo in a research note on Friday, February 14th. Finally, Needham & Company LLC upped their target price on shares of Duolingo from $385.00 to $400.00 and gave the company a "buy" rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $375.00.

Duolingo Stock Down 0.4 %

Shares of DUOL traded down $1.08 during trading hours on Friday, hitting $294.15. 1,281,802 shares of the company were exchanged, compared to its average volume of 798,677. The firm's 50 day moving average is $358.86 and its 200-day moving average is $312.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. Duolingo has a 52 week low of $145.05 and a 52 week high of $441.77. The company has a market cap of $12.94 billion, a PE ratio of 160.74 and a beta of 0.89.

Duolingo (NASDAQ:DUOL - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.19). Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The company had revenue of $209.55 million for the quarter, compared to the consensus estimate of $205.49 million. On average, equities research analysts forecast that Duolingo will post 2.03 EPS for the current fiscal year.

Insider Activity at Duolingo

In other news, CFO Matthew Skaruppa sold 3,284 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $435.28, for a total value of $1,429,459.52. Following the completion of the transaction, the chief financial officer now directly owns 59,982 shares of the company's stock, valued at approximately $26,108,964.96. This represents a 5.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Severin Hacker sold 188,901 shares of Duolingo stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $339.54, for a total value of $64,139,445.54. Following the transaction, the insider now directly owns 72 shares of the company's stock, valued at approximately $24,446.88. The trade was a 99.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 305,639 shares of company stock valued at $105,445,057 over the last quarter. 18.30% of the stock is owned by company insiders.

Institutional Trading of Duolingo

Several hedge funds have recently modified their holdings of DUOL. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Duolingo during the third quarter worth approximately $568,000. State of Alaska Department of Revenue grew its holdings in Duolingo by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,315 shares of the company's stock worth $1,216,000 after acquiring an additional 295 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Duolingo by 1.5% in the 3rd quarter. New York State Teachers Retirement System now owns 27,465 shares of the company's stock valued at $7,746,000 after purchasing an additional 406 shares during the period. US Bancorp DE boosted its position in shares of Duolingo by 142.3% in the 3rd quarter. US Bancorp DE now owns 2,450 shares of the company's stock worth $691,000 after purchasing an additional 1,439 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Duolingo by 164.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 127 shares of the company's stock worth $36,000 after purchasing an additional 79 shares during the last quarter. 91.59% of the stock is owned by institutional investors.

About Duolingo

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.