JPMorgan Chase & Co. Boosts Duolingo (NASDAQ:DUOL) Price Target to $303.00

Duolingo (NASDAQ:DUOL) had its price objective raised by JPMorgan Chase & Co. from $255.00 to $303.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the stock. Needham & Company LLC increased their target price on shares of Duolingo from $245.00 to $310.00 and gave the stock a buy rating in a research report on Wednesday. Barclays lowered their price objective on shares of Duolingo from $230.00 to $183.00 and set an equal weight rating for the company in a research report on Friday, August 9th. DA Davidson reaffirmed a buy rating and issued a $250.00 price objective on shares of Duolingo in a research report on Tuesday, September 10th. Piper Sandler reaffirmed an overweight rating and issued a $271.00 price objective on shares of Duolingo in a research report on Friday, August 30th. Finally, Bank of America increased their price objective on shares of Duolingo from $292.00 to $298.00 and gave the company a buy rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $255.50.

Duolingo Trading Up 0.0 %

Shares of DUOL stock opened at $278.03 on Wednesday. The firm has a market cap of $11.99 billion, a P/E ratio of 286.63 and a beta of 0.76. Duolingo has a 1-year low of $140.16 and a 1-year high of $297.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28. The firm’s 50-day simple moving average is $208.21 and its 200-day simple moving average is $206.23.

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

Insider Activity

In related news, insider Robert Meese sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total transaction of $1,425,200.00. Following the transaction, the insider now directly owns 142,053 shares in the company, valued at $40,490,787.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Matthew Skaruppa sold 8,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $198.59, for a total transaction of $1,588,720.00. Following the transaction, the chief financial officer now directly owns 95,731 shares in the company, valued at $19,011,219.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Meese sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $285.04, for a total value of $1,425,200.00. Following the transaction, the insider now owns 142,053 shares in the company, valued at $40,490,787.12. The disclosure for this sale can be found here. In the last three months, insiders sold 106,374 shares of company stock worth $22,019,727. 18.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duolingo

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new position in Duolingo during the second quarter worth $32,000. Larson Financial Group LLC bought a new stake in Duolingo in the second quarter valued at $31,000. GAMMA Investing LLC lifted its stake in Duolingo by 350.0% in the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in Duolingo in the second quarter valued at $36,000. Finally, Fifth Third Bancorp bought a new stake in Duolingo in the second quarter valued at $40,000. 91.59% of the stock is currently owned by institutional investors.

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.