JPMorgan Chase & Co. Trims Duolingo (NASDAQ:DUOL) Target Price to $255.00

Duolingo (NASDAQ:DUOL) had its target price reduced by JPMorgan Chase & Co. from $275.00 to $255.00 in a report issued on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. Bank of America raised shares of Duolingo from a neutral rating to a buy rating and set a $245.00 price target on the stock in a research report on Friday, July 26th. Piper Sandler upped their target price on Duolingo from $265.00 to $271.00 and gave the stock an overweight rating in a research note on Thursday. Needham & Company LLC lowered their price objective on shares of Duolingo from $267.00 to $245.00 and set a buy rating on the stock in a research report on Thursday. DA Davidson began coverage on shares of Duolingo in a research note on Thursday, June 13th. They issued a buy rating and a $250.00 price objective for the company. Finally, Evercore ISI upgraded shares of Duolingo to a strong-buy rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $237.40.

Duolingo Stock Performance

DUOL traded up $8.39 during midday trading on Thursday, reaching $187.38. The company had a trading volume of 696,130 shares, compared to its average volume of 770,708. The business has a 50-day moving average price of $188.46 and a two-hundred day moving average price of $198.71. The stock has a market cap of $8.08 billion, a PE ratio of 193.18 and a beta of 0.72. Duolingo has a 12-month low of $121.89 and a 12-month high of $251.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.22 and a current ratio of 3.22.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. Duolingo had a net margin of 7.82% and a return on equity of 7.08%. The business had revenue of $178.30 million for the quarter, compared to analyst estimates of $177.13 million. During the same period in the previous year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. On average, sell-side analysts expect that Duolingo will post 1.74 earnings per share for the current fiscal year.

Insider Activity at Duolingo

In other news, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $198.61, for a total value of $1,986,100.00. Following the completion of the sale, the insider now owns 72 shares of the company’s stock, valued at approximately $14,299.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $198.61, for a total value of $1,986,100.00. Following the completion of the transaction, the insider now directly owns 72 shares in the company, valued at $14,299.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ahn Luis Von sold 1,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were 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 44,198 shares of company stock worth $8,092,373 over the last quarter. Corporate insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates acquired a new stake in shares of Duolingo during the fourth quarter worth $4,211,000. International Assets Investment Management LLC bought a new stake in shares of Duolingo during the 4th quarter worth about $4,374,000. Cerity Partners LLC increased its holdings in Duolingo by 2,767.0% in the fourth quarter. Cerity Partners LLC now owns 46,789 shares of the company’s stock worth $10,614,000 after buying an additional 45,157 shares during the last quarter. Mackenzie Financial Corp raised its position in Duolingo by 40.7% in the fourth quarter. Mackenzie Financial Corp now owns 2,543 shares of the company’s stock worth $577,000 after purchasing an additional 736 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in shares of Duolingo during the fourth quarter worth about $3,087,000. 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.