Brokerages Set Duolingo, Inc. (NASDAQ:DUOL) Price Target at $422.50

Duolingo, Inc. (NASDAQ:DUOL - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $426.29.

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Duolingo in a report on Friday, January 24th. They set a "hold" rating and a $370.00 price objective on the stock. UBS Group raised their price target on shares of Duolingo from $400.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. The Goldman Sachs Group boosted their price objective on shares of Duolingo from $340.00 to $403.00 and gave the company a "neutral" rating in a report on Monday. Needham & Company LLC increased their price objective on Duolingo from $400.00 to $460.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Scotiabank upped their target price on Duolingo from $405.00 to $470.00 and gave the company a "sector outperform" rating in a research report on Friday, May 2nd.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 9,020 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $290.59, for a total transaction of $2,621,121.80. Following the completion of the sale, the insider now owns 130,733 shares of the company's stock, valued at $37,989,702.47. The trade was a 6.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stephen C. Chen sold 2,064 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total transaction of $898,087.68. Following the completion of the transaction, the general counsel now directly owns 34,634 shares in the company, valued at $15,069,946.08. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,868 shares of company stock valued at $38,594,200. Company insiders own 18.30% of the company's stock.

Hedge Funds Weigh In On Duolingo

A number of hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in Duolingo by 39.9% in the 4th quarter. FMR LLC now owns 3,726,561 shares of the company's stock valued at $1,208,263,000 after purchasing an additional 1,063,327 shares in the last quarter. Norges Bank purchased a new position in shares of Duolingo in the fourth quarter worth about $152,296,000. T. Rowe Price Investment Management Inc. boosted its position in Duolingo by 548.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 470,834 shares of the company's stock worth $152,659,000 after acquiring an additional 398,259 shares during the last quarter. Invesco Ltd. grew its stake in Duolingo by 53.5% during the 4th 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 raised 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 and hedge funds own 91.59% of the company's stock.

Duolingo Stock Up 1.0 %

Shares of DUOL stock traded up $5.01 during mid-day trading on Friday, hitting $495.56. 1,054,128 shares of the stock traded hands, compared to its average volume of 741,385. The stock's fifty day moving average is $330.76 and its two-hundred day moving average is $339.70. 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 52-week low of $145.05 and a 52-week high of $504.31. The stock has a market cap of $22.42 billion, a P/E ratio of 270.80 and a beta of 0.88.

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

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.