JPMorgan Chase & Co. Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL - Get Free Report) had its target price upped by JPMorgan Chase & Co. from $500.00 to $580.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 10.90% from the company's previous close.

Other equities analysts also recently issued reports about the company. Citizens Jmp raised Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 price objective for the company in a research note on Tuesday, March 18th. DA Davidson increased their target price on Duolingo from $470.00 to $600.00 and gave the company a "buy" rating in a report on Friday, May 30th. Barclays increased their target price on Duolingo from $330.00 to $375.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Scotiabank increased 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. Finally, The Goldman Sachs Group increased their target price on Duolingo from $340.00 to $403.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $441.29.

Duolingo Price Performance

NASDAQ DUOL traded up $4.20 during mid-day trading on Wednesday, hitting $522.99. The stock had a trading volume of 740,752 shares, compared to its average volume of 709,908. Duolingo has a 52-week low of $145.05 and a 52-week high of $544.93. The company has a market cap of $23.77 billion, a price-to-earnings ratio of 285.79 and a beta of 1.00. The company has a 50 day simple moving average of $422.94 and a 200 day simple moving average of $371.04. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its quarterly earnings data 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. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The firm had revenue of $230.74 million during the quarter, compared to the consensus estimate of $223.15 million. The firm's revenue was up 37.6% compared to the same quarter last year. Equities analysts forecast 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 firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $298.25, for a total transaction of $2,982,500.00. Following the sale, the insider now owns 72 shares in the company, valued at $21,474. This trade represents a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ahn Luis Von sold 8,000 shares of Duolingo stock in a transaction on Monday, March 17th. The shares were sold at an average price of $293.80, for a total value of $2,350,400.00. The disclosure for this sale can be found here. Insiders have sold 84,833 shares of company stock worth $29,006,319 over the last quarter. 15.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Duolingo by 39.9% in the fourth quarter. FMR LLC now owns 3,726,561 shares of the company's stock valued at $1,208,263,000 after acquiring an additional 1,063,327 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Duolingo by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,542,194 shares of the company's stock valued at $1,148,486,000 after acquiring an additional 70,705 shares during the last quarter. Invesco Ltd. raised its position in Duolingo by 24.1% in the first quarter. Invesco Ltd. now owns 1,346,278 shares of the company's stock valued at $418,073,000 after purchasing an additional 261,212 shares during the period. Price T Rowe Associates Inc. MD raised its position in Duolingo by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company's stock valued at $434,398,000 after purchasing an additional 10,638 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its position in Duolingo by 110.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company's stock valued at $307,716,000 after purchasing an additional 520,069 shares during the period. 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.