Duolingo (NASDAQ:DUOL) Price Target Cut to $465.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced Duolingo's price target from $515.00 to $465.00, while maintaining an "overweight" rating, indicating a potential upside of 42.35% from the current price.
• In a shift of ratings, DA Davidson downgraded Duolingo's shares from "buy" to "neutral," lowering their price target to $300.00, while other firms have set target prices ranging from $239.00 to $280.00.
• Duolingo recently reported strong quarterly earnings of $0.91 per share, significantly exceeding analysts' expectations of $0.55, and achieved a revenue of $252.27 million, reflecting a 41.5% year-over-year increase.

Duolingo (NASDAQ:DUOL - Get Free Report) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $515.00 to $465.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 42.35% from the stock's current price.

Several other equities research analysts have also recently commented on the stock. DA Davidson cut shares of Duolingo from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $500.00 to $300.00 in a research report on Thursday, September 4th. Robert W. Baird initiated coverage on Duolingo in a research note on Friday, September 5th. They set a "neutral" rating and a $280.00 target price on the stock. Wells Fargo & Company assumed coverage on Duolingo in a research note on Monday, September 8th. They set an "underweight" rating and a $239.00 target price on the stock. Baird R W raised Duolingo to a "hold" rating in a research note on Friday, September 5th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Duolingo in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Duolingo has a consensus rating of "Moderate Buy" and an average target price of $416.68.

Duolingo Stock Up 0.5%

Shares of DUOL traded up $1.66 during mid-day trading on Monday, reaching $326.66. 155,123 shares of the stock traded hands, compared to its average volume of 1,169,420. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of 133.52, a P/E/G ratio of 2.14 and a beta of 0.86. The stock has a fifty day simple moving average of $316.50 and a 200 day simple moving average of $380.95. Duolingo has a 12-month low of $256.63 and a 12-month high of $544.93. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.36. Duolingo had a net margin of 13.24% and a return on equity of 13.32%. The company had revenue of $252.27 million for the quarter, compared to analyst estimates of $240.84 million. During the same quarter last year, the firm posted $0.51 earnings per share. The business's quarterly revenue was up 41.5% on a year-over-year basis. Sell-side analysts expect that Duolingo will post 2.03 EPS for the current fiscal year.

Insider Transactions at Duolingo

In other Duolingo news, insider Natalie Glance sold 3,283 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $312.30, for a total transaction of $1,025,280.90. Following the completion of the transaction, the insider directly owned 116,171 shares in the company, valued at $36,280,203.30. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew Skaruppa sold 10,937 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $317.39, for a total value of $3,471,294.43. Following the transaction, the chief financial officer owned 43,345 shares of the company's stock, valued at $13,757,269.55. This represents a 20.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,791 shares of company stock worth $26,918,301 over the last three months. 18.30% of the stock is currently owned by insiders.

Institutional Trading of Duolingo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rise Advisors LLC increased its holdings in shares of Duolingo by 43.6% in the first quarter. Rise Advisors LLC now owns 79 shares of the company's stock valued at $25,000 after purchasing an additional 24 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Duolingo during the 1st quarter worth about $28,000. Brooklyn Investment Group grew its position in shares of Duolingo by 4,750.0% during the 1st quarter. Brooklyn Investment Group now owns 97 shares of the company's stock worth $30,000 after buying an additional 95 shares during the period. Garde Capital Inc. acquired a new position in shares of Duolingo during the 1st quarter worth about $31,000. Finally, Kiker Wealth Management LLC acquired a new position in shares of Duolingo during the 2nd quarter worth about $31,000. Institutional investors and hedge funds 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.

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