DA Davidson Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

Duolingo (NASDAQ:DUOL) had its target price hoisted by stock analysts at DA Davidson from $400.00 to $410.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective points to a potential upside of 30.16% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on DUOL. Needham & Company LLC upped their price objective on Duolingo from $385.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. Piper Sandler lifted their price objective on shares of Duolingo from $351.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. The Goldman Sachs Group boosted their price objective on shares of Duolingo from $275.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Finally, UBS Group set a $400.00 target price on shares of Duolingo in a research note on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Duolingo has an average rating of “Moderate Buy” and an average price target of $377.08.

Duolingo Stock Down 5.4 %

NASDAQ:DUOL opened at $315.00 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 3.09. Duolingo has a 1-year low of $145.05 and a 1-year high of $441.77. The company has a 50-day moving average of $347.74 and a 200 day moving average of $323.06. The firm has a market cap of $14.25 billion, a PE ratio of 172.13 and a beta of 0.92.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.19). The business had revenue of $209.55 million during the quarter, compared to analysts’ expectations of $205.49 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. As a group, research analysts anticipate that Duolingo will post 2.03 EPS for the current fiscal year.

Insider Activity at Duolingo

In other news, insider Natalie Glance sold 2,667 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total transaction of $1,160,891.76. Following the sale, the insider now directly owns 129,572 shares of the company’s stock, valued at $56,400,100.16. This represents a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Meese sold 5,351 shares of Duolingo stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $320.02, for a total value of $1,712,427.02. Following the completion of the transaction, the insider now owns 133,805 shares of the company’s stock, valued at approximately $42,820,276.10. This represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,850 shares of company stock worth $34,389,695 over the last three months. Company insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Large investors have recently modified their holdings of the business. Kensington Investment Counsel LLC grew its stake in Duolingo by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 5,633 shares of the company’s stock valued at $1,826,000 after acquiring an additional 30 shares in the last quarter. Lido Advisors LLC boosted its position in shares of Duolingo by 0.3% during the 4th quarter. Lido Advisors LLC now owns 10,104 shares of the company’s stock valued at $3,276,000 after acquiring an additional 30 shares during the last quarter. Atria Investments Inc grew its holdings in shares of Duolingo by 3.9% in the fourth quarter. Atria Investments Inc now owns 1,029 shares of the company’s stock valued at $334,000 after purchasing an additional 39 shares during the period. Lisanti Capital Growth LLC increased its position in Duolingo by 0.3% during the fourth quarter. Lisanti Capital Growth LLC now owns 11,685 shares of the company’s stock worth $3,789,000 after purchasing an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Duolingo by 19.3% during the fourth quarter. Fifth Third Bancorp now owns 260 shares of the company’s stock worth $84,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Duolingo Company Profile

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.