Duolingo (NASDAQ:DUOL) Now Covered by Argus

Equities researchers at Argus began coverage on shares of Duolingo (NASDAQ:DUOL - Get Free Report) in a report issued on Wednesday, MarketBeat reports. The brokerage set a "buy" rating and a $575.00 price target on the stock. Argus' target price points to a potential upside of 44.59% from the stock's current price.

A number of other analysts also recently weighed in on DUOL. Evercore ISI upped their price target on shares of Duolingo from $400.00 to $480.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. DA Davidson upped their target price on Duolingo from $470.00 to $600.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Scotiabank raised their target price on Duolingo from $405.00 to $470.00 and gave the company a "sector outperform" rating in a report on Friday, May 2nd. Citizens Jmp upgraded Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 price target on the stock in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. boosted their price target on Duolingo from $500.00 to $580.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $443.53.

Duolingo Price Performance

Duolingo stock traded down $25.11 during mid-day trading on Wednesday, reaching $397.68. 1,432,341 shares of the company were exchanged, compared to its average volume of 727,303. The firm has a market cap of $18.08 billion, a PE ratio of 195.90, a PEG ratio of 3.44 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.68 and a quick ratio of 2.68. The company has a fifty day simple moving average of $468.28 and a 200-day simple moving average of $383.98. Duolingo has a 12 month low of $145.05 and a 12 month high of $544.93.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.20. The company had revenue of $230.74 million for the quarter, compared to analyst estimates of $223.15 million. Duolingo had a return on equity of 11.70% and a net margin of 11.93%. Duolingo's revenue for the quarter was up 37.6% on a year-over-year basis. As a group, equities research analysts expect that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Natalie Glance sold 3,482 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $319.59, for a total value of $1,112,812.38. Following the completion of the sale, the insider now directly owns 127,251 shares in the company, valued at $40,668,147.09. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Severin Hacker sold 10,000 shares of Duolingo stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $471.20, for a total value of $4,712,000.00. Following the transaction, the insider now directly owns 72 shares in the company, valued at $33,926.40. The trade was a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,482 shares of company stock worth $30,373,992 in the last ninety days. Company insiders own 18.30% of the company's stock.

Institutional Investors Weigh In On Duolingo

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Congress Asset Management Co. bought a new stake in Duolingo in the first quarter valued at approximately $15,430,000. Taika Capital LP acquired a new position in shares of Duolingo in the 4th quarter worth approximately $2,697,000. BNP Paribas Financial Markets bought a new stake in shares of Duolingo in the 4th quarter valued at $9,708,000. Redwood Investment Management LLC bought a new stake in shares of Duolingo in the 4th quarter valued at $1,429,000. Finally, Abacus FCF Advisors LLC acquired a new stake in shares of Duolingo during the first quarter worth $4,904,000. Institutional investors and hedge funds 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.