Duolingo (NASDAQ:DUOL) Raised to "Outperform" at Citizens Jmp

Duolingo (NASDAQ:DUOL - Get Free Report) was upgraded by stock analysts at Citizens Jmp from a "market perform" rating to an "outperform" rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $400.00 target price on the stock. Citizens Jmp's price target would suggest a potential upside of 29.32% from the company's previous close.

A number of other analysts have also recently issued reports on the company. Barclays increased their price objective on Duolingo from $295.00 to $330.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. JMP Securities reissued a "market perform" rating on shares of Duolingo in a report on Friday, February 14th. Jefferies Financial Group started coverage on Duolingo in a report on Friday, January 24th. They set a "hold" rating and a $370.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Duolingo from $400.00 to $410.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group increased their price objective on Duolingo from $275.00 to $340.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $376.25.

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Duolingo Stock Performance

Shares of NASDAQ DUOL traded up $3.13 during trading on Tuesday, reaching $309.30. 868,382 shares of the stock traded hands, compared to its average volume of 699,528. Duolingo has a 52-week low of $145.05 and a 52-week 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 company has a 50-day moving average of $347.58 and a 200-day moving average of $318.89. The stock has a market capitalization of $13.99 billion, a P/E ratio of 169.02 and a beta of 0.92.

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

Insider Activity

In other news, CEO Ahn Luis Von sold 8,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $321.00, for a total transaction of $2,568,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew Skaruppa sold 5,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $324.48, for a total value of $1,622,400.00. Following the transaction, the chief financial officer now owns 67,730 shares in the company, valued at $21,977,030.40. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,499 shares of company stock worth $32,677,268. 18.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duolingo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP grew its position in Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company's stock worth $30,000 after acquiring an additional 65 shares during the last quarter. True Wealth Design LLC bought a new position in Duolingo during the 3rd quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Duolingo during the 4th quarter worth approximately $31,000. First Horizon Advisors Inc. bought a new position in Duolingo during the 3rd quarter worth approximately $29,000. Finally, Harvest Fund Management Co. Ltd grew its position in Duolingo by 5,050.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company's stock worth $33,000 after acquiring an additional 101 shares during the last quarter. 91.59% of the stock is currently 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.