Needham & Company LLC Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

Duolingo (NASDAQ:DUOL - Free Report) had its price target boosted by Needham & Company LLC from $385.00 to $400.00 in a research note released on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the company. JMP Securities reiterated a "market perform" rating on shares of Duolingo in a report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on Duolingo from $360.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. Piper Sandler increased their target price on Duolingo from $271.00 to $351.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on Duolingo in a report on Friday, January 24th. They issued a "hold" rating and a $370.00 price target for the company. Finally, Bank of America lowered shares of Duolingo from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $355.00 to $375.00 in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $375.00.

Duolingo Price Performance

Shares of DUOL traded down $1.08 during trading hours on Friday, reaching $294.15. 1,281,802 shares of the company traded hands, compared to its average volume of 798,677. The stock has a market capitalization of $12.94 billion, a PE ratio of 160.74 and a beta of 0.89. The stock has a fifty day simple moving average of $358.86 and a 200 day simple moving average of $312.43. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $441.77. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL - Get Free Report) last released 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). The firm had revenue of $209.55 million during the quarter, compared to analysts' expectations of $205.49 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. As a group, research analysts predict that Duolingo will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at Duolingo

In other Duolingo news, CEO Ahn Luis Von sold 41,759 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $340.29, for a total transaction of $14,210,170.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Skaruppa sold 3,284 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $435.28, for a total transaction of $1,429,459.52. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 305,639 shares of company stock worth $105,445,057 over the last 90 days. Insiders own 18.30% of the company's stock.

Hedge Funds Weigh In On Duolingo

Several large investors have recently made changes to their positions in DUOL. True Wealth Design LLC purchased a new stake in shares of Duolingo during the third quarter valued at $26,000. First Horizon Advisors Inc. purchased a new position in shares of Duolingo in the third quarter worth approximately $29,000. Quarry LP raised its stake in Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company's stock valued at $30,000 after purchasing an additional 65 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Duolingo during the fourth quarter valued at $31,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Duolingo by 5,050.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company's stock worth $33,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 91.59% of the company's stock.

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.