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

Duolingo (NASDAQ:DUOL - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $360.00 to $400.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 16.16% from the stock's current price.

Other equities analysts have also issued reports about the company. Needham & Company LLC raised their target price on Duolingo from $310.00 to $370.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Bank of America lowered shares of Duolingo from a "buy" rating to a "neutral" rating and lifted their price target for the company from $355.00 to $375.00 in a research report on Wednesday. Scotiabank started coverage on shares of Duolingo in a report on Thursday, December 5th. They set a "sector outperform" rating and a $425.00 price objective for the company. Barclays lifted their target price on shares of Duolingo from $183.00 to $295.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. Finally, UBS Group upped their price target on shares of Duolingo from $355.00 to $408.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Duolingo presently has an average rating of "Moderate Buy" and a consensus price target of $352.40.

Duolingo Price Performance

NASDAQ DUOL opened at $344.35 on Thursday. 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 1 year low of $145.05 and a 1 year high of $378.48. The stock has a market capitalization of $15.15 billion, a P/E ratio of 188.17 and a beta of 0.85. The business's fifty day moving average is $315.15 and its two-hundred day moving average is $243.66.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.14. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business had revenue of $192.59 million during the quarter, compared to analyst estimates of $189.19 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The firm's revenue was up 39.9% compared to the same quarter last year. On average, research analysts forecast that Duolingo will post 2.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $369.33, for a total value of $553,995.00. Following the completion of the transaction, the insider now owns 132,239 shares in the company, valued at approximately $48,839,829.87. This represents a 1.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Meese sold 4,819 shares of Duolingo stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $240.02, for a total transaction of $1,156,656.38. Following the sale, the insider now owns 157,053 shares in the company, valued at approximately $37,695,861.06. This trade represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,319 shares of company stock valued at $5,377,256 in the last quarter. Corporate insiders own 18.30% of the company's stock.

Hedge Funds Weigh In On Duolingo

Hedge funds have recently modified their holdings of the stock. True Wealth Design LLC bought a new stake in shares of Duolingo in the 3rd quarter worth about $26,000. First Horizon Advisors Inc. bought a new stake in Duolingo in the third quarter valued at about $29,000. Larson Financial Group LLC acquired a new position in Duolingo in the second quarter valued at about $31,000. Blue Trust Inc. bought a new position in Duolingo during the second quarter worth about $32,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Duolingo during the 2nd quarter worth about $36,000. 91.59% of the stock is 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.

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