Duolingo (NASDAQ:DUOL – Get Free Report)‘s stock had its “hold” rating reaffirmed by equities research analysts at Argus in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $146.00 price objective on the stock. Argus’ target price indicates a potential downside of 0.57% from the stock’s current price.
A number of other research firms have also weighed in on DUOL. UBS Group raised their price objective on shares of Duolingo from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Zacks Research raised shares of Duolingo from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. KeyCorp raised shares of Duolingo from a “hold” rating to an “overweight” rating in a research report on Tuesday, August 18th. Jefferies Financial Group upped their target price on shares of Duolingo from $95.00 to $125.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Finally, Bank of America cut shares of Duolingo from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $103.00 to $93.00 in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Duolingo presently has a consensus rating of “Hold” and an average target price of $132.06.
Check Out Our Latest Analysis on Duolingo
Duolingo Price Performance
Duolingo (NASDAQ:DUOL – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. Duolingo had a return on equity of 12.10% and a net margin of 35.88%.The company had revenue of $298.45 million for the quarter, compared to analysts’ expectations of $295.58 million. During the same period last year, the business earned $0.91 EPS. Duolingo’s quarterly revenue was up 18.3% compared to the same quarter last year. Sell-side analysts forecast that Duolingo will post 2.64 EPS for the current fiscal year.
Insider Transactions at Duolingo
In other news, insider Natalie Glance sold 1,539 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $137.80, for a total value of $212,074.20. Following the completion of the sale, the insider owned 169,111 shares in the company, valued at $23,303,495.80. This represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Stephen C. Chen sold 1,024 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $129.13, for a total transaction of $132,229.12. Following the completion of the sale, the general counsel owned 51,841 shares of the company’s stock, valued at approximately $6,694,228.33. This represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,668 shares of company stock worth $874,382 in the last quarter. 16.62% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Duolingo
Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Duolingo by 12,171.5% in the 2nd quarter. California State Teachers Retirement System now owns 5,119,655 shares of the company’s stock worth $588,863,000 after buying an additional 5,077,935 shares during the last quarter. Wedmont Private Capital bought a new position in shares of Duolingo in the second quarter valued at approximately $435,000. HB Wealth Management LLC bought a new position in shares of Duolingo in the second quarter valued at approximately $227,000. Odyssean LLC increased its position in shares of Duolingo by 67.9% during the second quarter. Odyssean LLC now owns 12,340 shares of the company’s stock valued at $1,419,000 after acquiring an additional 4,990 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Duolingo during the second quarter valued at approximately $218,000. Institutional investors own 91.59% of the company’s stock.
Duolingo Company Profile
Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.
In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.
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