Duolingo (NASDAQ:DUOL) Given New $470.00 Price Target at Scotiabank

Duolingo (NASDAQ:DUOL - Free Report) had its price target lifted by Scotiabank from $405.00 to $470.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a sector outperform rating on the stock.

A number of other brokerages have also recently commented on DUOL. Needham & Company LLC lifted their target price on shares of Duolingo from $400.00 to $460.00 and gave the stock a "buy" rating in a research report on Friday. Barclays boosted their target price on Duolingo from $330.00 to $375.00 and gave the company an "equal weight" rating in a research note on Friday. Morgan Stanley started coverage on Duolingo in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $435.00 price target on the stock. DA Davidson boosted their price objective on Duolingo from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, Piper Sandler raised their target price on shares of Duolingo from $351.00 to $390.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $426.29.

Duolingo Price Performance

Shares of DUOL traded down $3.58 during midday trading on Friday, reaching $490.55. The stock had a trading volume of 1,492,888 shares, compared to its average volume of 740,629. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $22.19 billion, a price-to-earnings ratio of 268.06 and a beta of 0.88. The company's 50-day moving average is $328.46 and its 200 day moving average is $338.64. Duolingo has a 12-month low of $145.05 and a 12-month high of $504.31.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued 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 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 company's quarterly revenue was up 37.6% on a year-over-year basis. On average, equities analysts predict that Duolingo will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Stephen C. Chen sold 2,064 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $435.12, for a total value of $898,087.68. Following the sale, the general counsel now owns 34,634 shares in the company, valued at $15,069,946.08. This represents a 5.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Natalie Glance sold 2,667 shares of Duolingo stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total value of $1,160,891.76. Following the transaction, the insider now owns 129,572 shares of the company's stock, valued at $56,400,100.16. The trade was a 2.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,868 shares of company stock worth $37,549,300. 18.30% of the stock is currently owned by company insiders.

Institutional Trading of Duolingo

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in shares of Duolingo during the first quarter valued at approximately $25,000. Quarry LP boosted its stake in Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company's stock valued at $30,000 after purchasing an additional 65 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Duolingo in the fourth quarter worth $31,000. Garde Capital Inc. purchased a new stake in shares of Duolingo during the first quarter valued at $31,000. Finally, Harvest Fund Management Co. Ltd raised its position in Duolingo by 5,050.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company's stock worth $33,000 after buying an additional 101 shares during the last quarter. 91.59% of the stock is currently owned by 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.