JPMorgan Chase & Co. Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL - Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $400.00 to $410.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 39.38% from the stock's previous close.

Several other research analysts have also commented on the company. The Goldman Sachs Group lifted their price target on Duolingo from $250.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Bank of America cut shares of Duolingo from a "buy" rating to a "neutral" rating and lifted their target price for the company from $355.00 to $375.00 in a report on Wednesday, December 11th. Scotiabank began coverage on shares of Duolingo in a research note on Thursday, December 5th. They set a "sector outperform" rating and a $425.00 price target for the company. JMP Securities reissued a "market perform" rating on shares of Duolingo in a research report on Friday, February 14th. Finally, Barclays upped their target price on shares of Duolingo from $183.00 to $295.00 and gave the company an "equal weight" rating in a report on Thursday, November 7th. Seven 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $375.00.

Duolingo Stock Down 0.4 %

Shares of NASDAQ DUOL traded down $1.08 during mid-day trading on Friday, reaching $294.15. The company had a trading volume of 1,281,819 shares, compared to its average volume of 803,322. The firm has a 50 day simple moving average of $358.86 and a two-hundred day simple moving average of $312.43. Duolingo has a 52-week low of $145.05 and a 52-week high of $441.77. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock has a market cap of $12.94 billion, a P/E ratio of 160.74 and a beta of 0.89.

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

Insider Buying and Selling

In related news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $369.33, for a total value of $553,995.00. Following the sale, the insider now directly owns 132,239 shares in the company, valued at $48,839,829.87. The trade was 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 link. Also, General Counsel Stephen C. Chen sold 2,064 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $435.12, for a total value of $898,087.68. Following the transaction, the general counsel now directly owns 34,634 shares in the company, valued at $15,069,946.08. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 305,639 shares of company stock valued at $105,445,057 over the last ninety days. Corporate insiders own 18.30% of the company's stock.

Institutional Investors Weigh In On Duolingo

Several institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Duolingo by 39.9% in the fourth quarter. FMR LLC now owns 3,726,561 shares of the company's stock valued at $1,208,263,000 after purchasing an additional 1,063,327 shares during the period. Norges Bank purchased a new position in Duolingo in the fourth quarter valued at about $152,296,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Duolingo by 548.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company's stock valued at $152,659,000 after acquiring an additional 398,259 shares during the period. Invesco Ltd. boosted its stake in shares of Duolingo by 53.5% during the 4th quarter. Invesco Ltd. now owns 1,085,066 shares of the company's stock worth $351,811,000 after acquiring an additional 378,225 shares in the last quarter. Finally, Spyglass Capital Management LLC acquired a new stake in shares of Duolingo in the 3rd quarter worth approximately $38,512,000. 91.59% of the stock is currently owned by hedge funds and other 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.