Duolingo (NASDAQ:DUOL) PT Raised to $298.00 at Bank of America

Duolingo (NASDAQ:DUOL) had its price target raised by stock analysts at Bank of America from $292.00 to $298.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 3.89% from the company’s current price.

A number of other research firms also recently issued reports on DUOL. Wolfe Research began coverage on Duolingo in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Needham & Company LLC increased their price target on Duolingo from $245.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays cut their price target on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. JMP Securities raised their price objective on Duolingo from $260.00 to $275.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $271.00 target price on shares of Duolingo in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Duolingo has a consensus rating of “Moderate Buy” and an average target price of $250.70.

Duolingo Stock Up 6.3 %

NASDAQ DUOL traded up $17.04 during mid-day trading on Wednesday, reaching $286.83. The stock had a trading volume of 382,545 shares, compared to its average volume of 728,704. The stock has a market cap of $12.37 billion, a PE ratio of 295.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28. Duolingo has a 1 year low of $140.16 and a 1 year high of $289.80. The company has a fifty day moving average price of $202.03 and a 200 day moving average price of $204.76.

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

Insider Transactions at Duolingo

In other news, CEO Ahn Luis Von sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $215.00, for a total transaction of $215,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Duolingo news, insider Robert Meese sold 5,000 shares of Duolingo stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $270.00, for a total value of $1,350,000.00. Following the completion of the transaction, the insider now directly owns 147,053 shares of the company’s stock, valued at approximately $39,704,310. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ahn Luis Von sold 1,000 shares of the business’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 102,374 shares of company stock worth $20,809,527 over the last quarter. 18.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duolingo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Duolingo by 5.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,046 shares of the company’s stock valued at $231,000 after acquiring an additional 55 shares during the period. 9258 Wealth Management LLC boosted 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 worth $347,000 after purchasing an additional 65 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Duolingo by 3.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,962 shares of the company’s stock valued at $409,000 after buying an additional 73 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in 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 last quarter. Finally, Strategic Advocates LLC grew its stake in shares of Duolingo by 8.3% during the 2nd quarter. Strategic Advocates LLC now owns 1,149 shares of the company’s stock valued at $240,000 after buying an additional 88 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

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.