Duolingo (NASDAQ:DUOL) Price Target Raised to $390.00

Key Points

• Duolingo's price target was raised to $390.00 by Barclays, which indicates a potential downside of approximately 13.14% from the stock's previous close.
• Analysts have a consensus rating of "Moderate Buy" on Duolingo, with an average price target of $451.87, showing strong investor confidence despite varied price targets from other brokerages.
• Duolingo reported a 41.5% increase in revenue year-over-year for the last quarter, along with an EPS of $0.91, surpassing expectations significantly.

Duolingo (NASDAQ:DUOL - Get Free Report) had its price target lifted by equities researchers at Barclays from $375.00 to $390.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price target points to a potential downside of 13.14% from the stock's previous close.

A number of other brokerages have also issued reports on DUOL. Evercore ISI boosted their target price on Duolingo from $400.00 to $480.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. cut their target price on Duolingo from $580.00 to $500.00 and set an "overweight" rating on the stock in a research report on Thursday, July 17th. Citizens Jmp cut their target price on Duolingo from $475.00 to $450.00 and set a "mkt outperform" rating on the stock in a research report on Monday, July 28th. Needham & Company LLC boosted their target price on Duolingo from $400.00 to $460.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Piper Sandler set a $375.00 price objective on Duolingo in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $451.87.

Duolingo Trading Up 30.7%

Shares of Duolingo stock opened at $449.00 on Thursday. The stock has a market cap of $20.41 billion, a P/E ratio of 221.18, a P/E/G ratio of 2.61 and a beta of 0.87. The stock's 50 day simple moving average is $416.29 and its 200-day simple moving average is $391.44. Duolingo has a 1-year low of $170.43 and a 1-year high of $544.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.68 and a quick ratio of 2.68.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.55 by $0.36. The firm had revenue of $252.27 million for the quarter, compared to analyst estimates of $240.84 million. Duolingo had a net margin of 11.93% and a return on equity of 11.70%. The business's revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. Analysts predict that Duolingo will post 2.03 EPS for the current fiscal year.

Insider Transactions at Duolingo

In other news, insider Severin Hacker sold 10,000 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $360.33, for a total value of $3,603,300.00. Following the completion of the sale, the insider directly owned 72 shares of the company's stock, valued at approximately $25,943.76. This represents a 99.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 40,000 shares of company stock valued at $17,495,200 in the last three months. Corporate insiders own 15.67% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC raised its holdings in Duolingo by 43.6% during the first quarter. Rise Advisors LLC now owns 79 shares of the company's stock worth $25,000 after purchasing an additional 24 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Duolingo by 20.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 153 shares of the company's stock valued at $48,000 after buying an additional 26 shares in the last quarter. Parallel Advisors LLC increased its holdings in Duolingo by 16.3% in the second quarter. Parallel Advisors LLC now owns 186 shares of the company's stock valued at $76,000 after buying an additional 26 shares in the last quarter. US Bancorp DE increased its holdings in Duolingo by 1.4% in the second quarter. US Bancorp DE now owns 1,968 shares of the company's stock valued at $807,000 after buying an additional 28 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in Duolingo by 0.3% in the fourth quarter. Lido Advisors LLC now owns 10,104 shares of the company's stock valued at $3,276,000 after buying an additional 30 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other 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.

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