Duolingo’s (DUOL) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson restated their buy rating on shares of Duolingo (NASDAQ:DUOL) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $250.00 target price on the stock.

Several other brokerages have also recently issued reports on DUOL. JPMorgan Chase & Co. reduced their price objective on Duolingo from $275.00 to $255.00 and set an overweight rating for the company in a report on Thursday, August 8th. Barclays decreased their price objective on shares of Duolingo from $230.00 to $183.00 and set an equal weight rating on the stock in a research report on Friday, August 9th. Wolfe Research began coverage on shares of Duolingo in a report on Tuesday, July 16th. They set a peer perform rating for the company. JMP Securities reaffirmed a market outperform rating and issued a $260.00 price target on shares of Duolingo in a report on Wednesday, July 10th. Finally, Piper Sandler reiterated an overweight rating and issued a $271.00 price target on shares of Duolingo in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Duolingo currently has a consensus rating of Moderate Buy and an average target price of $237.40.

Duolingo Stock Performance

NASDAQ DUOL opened at $217.11 on Tuesday. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 223.82 and a beta of 0.75. The business’s 50 day moving average is $190.73 and its two-hundred day moving average is $202.25. Duolingo has a 12-month low of $140.16 and a 12-month high of $251.30. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a return on equity of 9.64% and a net margin of 10.44%. The firm had revenue of $178.30 million for the quarter, compared to analyst estimates of $177.13 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. Duolingo’s quarterly revenue was up 40.6% on a year-over-year basis. Research analysts expect that Duolingo will post 1.87 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ahn Luis Von sold 1,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $215.00, for a total value of $215,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Stephen C. Chen sold 19,464 shares of the business’s stock in a transaction on 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 sale, the general counsel now directly owns 35,558 shares of the company’s stock, valued at approximately $7,522,294.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ahn Luis Von sold 1,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $215.00, for a total value of $215,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 92,555 shares of company stock valued at $18,302,871 in the last quarter. 18.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Duolingo

A number of institutional investors have recently added to or reduced their stakes in DUOL. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Duolingo by 5.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,046 shares of the company’s stock valued at $231,000 after purchasing an additional 55 shares in the last quarter. 9258 Wealth Management LLC lifted its position in Duolingo by 4.4% during the fourth quarter. 9258 Wealth Management LLC now owns 1,529 shares of the company’s stock valued at $347,000 after buying an additional 65 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Duolingo by 3.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,962 shares of the company’s stock worth $409,000 after acquiring an additional 73 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Duolingo by 19.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 520 shares of the company’s stock valued at $109,000 after acquiring an additional 85 shares during the period. Finally, Strategic Advocates LLC raised its stake in shares of Duolingo by 8.3% in the 2nd quarter. Strategic Advocates LLC now owns 1,149 shares of the company’s stock valued at $240,000 after acquiring an additional 88 shares during the period. 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.