Duolingo (NASDAQ:DUOL – Get Free Report) had its price objective raised by analysts at JPMorgan Chase & Co. from $125.00 to $135.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 4.99% from the company’s previous close.
DUOL has been the topic of several other research reports. Scotiabank set a $120.00 target price on shares of Duolingo in a research report on Thursday, August 6th. Susquehanna began coverage on shares of Duolingo in a report on Tuesday, August 18th. They issued a “positive” rating for the company. Argus reiterated a “hold” rating and set a $146.00 price objective on shares of Duolingo in a research note on Tuesday. Truist Financial boosted their price objective on shares of Duolingo from $100.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, August 6th. Finally, Jefferies Financial Group upped their target price on Duolingo from $95.00 to $125.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Duolingo has an average rating of “Hold” and a consensus target price of $132.65.
View Our Latest Stock Analysis on Duolingo
Duolingo Stock Up 0.9%
Duolingo (NASDAQ:DUOL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.66 earnings per share 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 business had revenue of $298.45 million for the quarter, compared to analyst estimates of $295.58 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. On average, sell-side analysts expect that Duolingo will post 2.64 EPS for the current year.
Insider Transactions at Duolingo
In related news, insider Natalie Glance sold 1,539 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $137.80, for a total transaction of $212,074.20. Following the sale, the insider directly owned 169,111 shares of the company’s stock, valued at $23,303,495.80. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $129.13, for a total transaction of $132,229.12. Following the sale, the general counsel directly owned 51,841 shares in the company, valued at $6,694,228.33. The trade was a 1.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 6,668 shares of company stock worth $874,382 over the last quarter. 16.62% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Duolingo
A number of large investors have recently added to or reduced their stakes in DUOL. California State Teachers Retirement System lifted its position in shares of Duolingo by 12,171.5% in the second quarter. California State Teachers Retirement System now owns 5,119,655 shares of the company’s stock valued at $588,863,000 after acquiring an additional 5,077,935 shares in the last quarter. Bank of America Corp DE raised its stake in Duolingo by 511.2% during the first quarter. Bank of America Corp DE now owns 1,332,301 shares of the company’s stock worth $131,325,000 after purchasing an additional 1,114,315 shares during the period. State of Michigan Retirement System lifted its holdings in Duolingo by 112.9% in the first quarter. State of Michigan Retirement System now owns 1,193,307 shares of the company’s stock valued at $117,624,000 after acquiring an additional 632,807 shares during the last quarter. FIL Ltd lifted its stake in shares of Duolingo by 1,715,575.9% in the 4th quarter. FIL Ltd now owns 497,546 shares of the company’s stock valued at $87,319,000 after purchasing an additional 497,517 shares during the last quarter. Finally, Norges Bank acquired a new position in Duolingo in the fourth quarter valued at about $86,159,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.
About Duolingo
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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