DA Davidson Increases Duolingo (NASDAQ:DUOL) Price Target to $600.00

Duolingo (NASDAQ:DUOL - Get Free Report) had its price target raised by research analysts at DA Davidson from $470.00 to $600.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's price target suggests a potential upside of 15.85% from the company's previous close.

Several other equities research analysts have also recently issued reports on DUOL. Piper Sandler set a $375.00 target price on shares of Duolingo in a report on Friday, May 2nd. Needham & Company LLC increased their price target on Duolingo from $400.00 to $460.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Citizens Jmp raised Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 price objective for the company in a report on Tuesday, March 18th. Scotiabank upped their price objective on Duolingo from $405.00 to $470.00 and gave the company a "sector outperform" rating in a research report on Friday, May 2nd. Finally, UBS Group reissued an "overweight" rating on shares of Duolingo in a research report on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Duolingo currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.57.

Duolingo Stock Up 0.9%

Shares of DUOL traded up $4.52 during trading hours on Friday, hitting $517.91. The company had a trading volume of 1,135,329 shares, compared to its average volume of 709,122. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 283.01 and a beta of 0.88. The firm has a fifty day moving average price of $411.34 and a 200-day moving average price of $367.17. Duolingo has a 52-week low of $145.05 and a 52-week high of $544.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.20. The business had revenue of $230.74 million during the quarter, compared to analyst estimates of $223.15 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business's revenue for the quarter was up 37.6% on a year-over-year basis. On average, equities research analysts forecast that Duolingo will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Natalie Glance sold 9,020 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $290.59, for a total value of $2,621,121.80. Following the transaction, the insider now directly owns 130,733 shares in the company, valued at $37,989,702.47. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Severin Hacker sold 10,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $495.95, for a total value of $4,959,500.00. Following the completion of the transaction, the insider now directly owns 72 shares of the company's stock, valued at approximately $35,708.40. This trade represents a 99.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,853 shares of company stock valued at $31,627,441. 15.67% of the stock is owned by corporate insiders.

Institutional Trading of Duolingo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Duolingo by 39.9% during the 4th quarter. FMR LLC now owns 3,726,561 shares of the company's stock valued at $1,208,263,000 after buying an additional 1,063,327 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Duolingo by 110.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company's stock worth $307,716,000 after acquiring an additional 520,069 shares during the last quarter. Norges Bank bought a new position in shares of Duolingo during the fourth quarter worth $152,296,000. Invesco Ltd. grew its stake in Duolingo by 53.5% during the fourth quarter. Invesco Ltd. now owns 1,085,066 shares of the company's stock valued at $351,811,000 after acquiring an additional 378,225 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Duolingo by 41,959.1% in the 1st quarter. GAMMA Investing LLC now owns 239,737 shares of the company's stock valued at $74,448,000 after acquiring an additional 239,167 shares during the last quarter. 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.