Duolingo (NASDAQ:DUOL) Price Target Raised to $351.00 at Piper Sandler

Duolingo (NASDAQ:DUOL - Free Report) had its price target lifted by Piper Sandler from $271.00 to $351.00 in a report published on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. UBS Group upped their price target on Duolingo from $225.00 to $355.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Barclays reduced their price objective on shares of Duolingo from $230.00 to $183.00 and set an "equal weight" rating for the company in a research report on Friday, August 9th. Wolfe Research initiated coverage on shares of Duolingo in a research note on Tuesday, July 16th. They issued a "peer perform" rating for the company. DA Davidson reiterated a "buy" rating and issued a $250.00 target price on shares of Duolingo in a research report on Tuesday, September 10th. Finally, Needham & Company LLC increased their price target on Duolingo from $310.00 to $370.00 and gave the company a "buy" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Duolingo currently has an average rating of "Moderate Buy" and a consensus price target of $325.44.

Duolingo Stock Performance

Shares of DUOL traded down $2.20 during mid-day trading on Thursday, reaching $316.65. The company had a trading volume of 1,002,455 shares, compared to its average volume of 701,112. Duolingo has a 52-week low of $145.05 and a 52-week high of $324.00. The stock has a market capitalization of $13.79 billion, a P/E ratio of 224.80 and a beta of 0.79. The stock has a 50 day moving average of $266.39 and a two-hundred day moving average of $220.10. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.13. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The business had revenue of $192.59 million for the quarter, compared to analyst estimates of $189.19 million. During the same period in the prior year, the company posted $0.06 EPS. The company's revenue for the quarter was up 39.9% on a year-over-year basis. On average, analysts expect that Duolingo will post 1.87 earnings per share for the current year.

Insider Activity

In related news, General Counsel Stephen C. Chen sold 19,464 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $211.55, for a total value of $4,117,609.20. Following the sale, the general counsel now directly owns 35,558 shares of the company's stock, valued at $7,522,294.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Natalie Glance sold 1,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the completion of the sale, the insider now directly owns 139,760 shares of the company's stock, valued at $29,001,597.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Stephen C. Chen sold 19,464 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the completion of the transaction, the general counsel now directly owns 35,558 shares of the company's stock, valued at approximately $7,522,294.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,874 shares of company stock worth $15,332,342. 18.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Duolingo

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Duolingo by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,387,433 shares of the company's stock valued at $747,200,000 after purchasing an additional 67,004 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in Duolingo by 23.9% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company's stock worth $281,281,000 after purchasing an additional 245,599 shares during the period. Dragoneer Investment Group LLC acquired a new stake in shares of Duolingo in the 2nd quarter valued at approximately $204,768,000. American Century Companies Inc. grew its stake in Duolingo by 25.1% in the 2nd quarter. American Century Companies Inc. now owns 498,957 shares of the company's stock valued at $104,117,000 after acquiring an additional 100,167 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Duolingo by 153.1% in the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company's stock valued at $82,450,000 after acquiring an additional 238,990 shares in the last quarter. Hedge funds and other 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.