Duolingo (NASDAQ:DUOL) Given New $580.00 Price Target at JPMorgan Chase & Co.

Duolingo (NASDAQ:DUOL - Get Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $500.00 to $580.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 13.07% from the company's previous close.

A number of other research firms also recently commented on DUOL. Barclays increased their price objective on Duolingo from $330.00 to $375.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Piper Sandler set a $375.00 price target on shares of Duolingo in a research note on Friday, May 2nd. Evercore ISI raised their price objective on shares of Duolingo from $400.00 to $480.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. JMP Securities restated a "market perform" rating on shares of Duolingo in a report on Friday, February 14th. Finally, Citizens Jmp raised shares of Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 target price on the stock in a research report on Tuesday, March 18th. Seven 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 currently has an average rating of "Moderate Buy" and a consensus price target of $441.29.

Duolingo Stock Down 1.9%

DUOL stock traded down $10.04 during mid-day trading on Wednesday, reaching $512.95. The company had a trading volume of 929,159 shares, compared to its average volume of 712,681. The firm has a fifty day simple moving average of $430.90 and a 200 day simple moving average of $374.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 280.30 and a beta of 1.00. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $544.93.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its earnings results 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 net margin of 12.59% and a return on equity of 11.74%. The firm had revenue of $230.74 million for the quarter, compared to analysts' expectations of $223.15 million. The business's revenue for the quarter was up 37.6% on a year-over-year basis. Analysts forecast that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at Duolingo

In other Duolingo news, insider Severin Hacker sold 10,000 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $298.25, for a total transaction of $2,982,500.00. Following the completion of the transaction, the insider now owns 72 shares in the company, valued at approximately $21,474. This represents a 99.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ahn Luis Von sold 8,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $293.80, for a total transaction of $2,350,400.00. The disclosure for this sale can be found here. Insiders sold 84,833 shares of company stock worth $29,006,319 over the last 90 days. 15.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duolingo

Large investors have recently modified their holdings of the business. Rise Advisors LLC grew 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 acquiring an additional 24 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Duolingo during the 1st quarter worth $25,000. Quarry LP grew its stake in shares of Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company's stock worth $30,000 after purchasing an additional 65 shares during the period. Summit Securities Group LLC purchased a new stake in Duolingo during the first quarter worth about $28,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Duolingo during the fourth quarter worth about $31,000. 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.