Duolingo (NASDAQ:DUOL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised Duolingo's target price from $500.00 to $515.00, indicating a potential upside of 31.57% from the stock's current price.
• Duolingo recently reported earnings of $0.91 per share, surpassing analysts' expectations of $0.55, and achieved a revenue of $252.27 million, which is 41.5% higher than the same quarter last year.
• Currently, the stock has a consensus rating of "Moderate Buy" with eleven analysts recommending a buy and five rating it as hold, while the average price target stands at $454.20.

Duolingo (NASDAQ:DUOL - Get Free Report) had its target price raised by research analysts at JPMorgan Chase & Co. from $500.00 to $515.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 31.57% from the stock's current price.

Several other research firms have also commented on DUOL. Citizens Jmp cut their price objective 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 upped their target price on Duolingo from $400.00 to $460.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Scotiabank upped their target price on shares of Duolingo from $405.00 to $470.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. Piper Sandler set a $375.00 price objective on shares of Duolingo in a report on Friday, May 2nd. Finally, Morgan Stanley lifted their target price on Duolingo from $480.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $454.20.

Duolingo Stock Performance

NASDAQ DUOL traded up $47.82 during trading on Thursday, reaching $391.43. The company's stock had a trading volume of 7,962,523 shares, compared to its average volume of 955,309. The business's fifty day moving average price is $416.29 and its 200-day moving average price is $391.44. Duolingo has a twelve month low of $170.43 and a twelve month high of $544.93. The firm has a market cap of $17.79 billion, a price-to-earnings ratio of 192.82, a P/E/G ratio of 2.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.68 and a current ratio of 2.68.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its earnings results 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. The company had revenue of $252.27 million during the quarter, compared to analysts' expectations of $240.84 million. Duolingo had a net margin of 11.93% and a return on equity of 11.70%. The firm's quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. As a group, analysts anticipate that Duolingo will post 2.03 EPS for the current fiscal year.

Insider Activity at Duolingo

In other news, insider Severin Hacker sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $360.33, for a total value of $3,603,300.00. Following the transaction, the insider owned 72 shares in the company, valued at $25,943.76. 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 hyperlink. In the last three months, insiders sold 40,000 shares of company stock valued at $17,495,200. Company insiders own 15.67% of the company's stock.

Institutional Trading of Duolingo

A number of hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in shares of Duolingo by 124.9% in the second quarter. Acadian Asset Management LLC now owns 49,030 shares of the company's stock worth $20,093,000 after purchasing an additional 27,228 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Duolingo during the 2nd quarter valued at approximately $2,390,000. Los Angeles Capital Management LLC bought a new stake in Duolingo during the 2nd quarter valued at about $14,377,000. True Wealth Design LLC lifted its position in Duolingo by 38.6% in the 2nd quarter. True Wealth Design LLC now owns 176 shares of the company's stock valued at $72,000 after acquiring an additional 49 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Duolingo during the second quarter valued at approximately $1,495,000. Institutional investors own 91.59% of the company's stock.

Duolingo Company Profile

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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