Duolingo (NASDAQ:DUOL) Given New $515.00 Price Target at JPMorgan Chase & Co.

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 price target hoisted by JPMorgan Chase & Co. from $500.00 to $515.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 51.21% from the company's previous close.

A number of other analysts have also recently commented on the stock. Morgan Stanley lifted their target price on shares of Duolingo from $480.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday. Piper Sandler set a $375.00 price objective on shares of Duolingo in a research note on Friday, May 2nd. Scotiabank lifted their price objective on shares of Duolingo from $405.00 to $470.00 and gave the company a "sector outperform" rating in a research note on Friday, May 2nd. Argus initiated coverage on shares of Duolingo in a research note on Wednesday, June 25th. They set a "buy" rating and a $575.00 price objective for the company. Finally, Barclays lifted their price objective on shares of Duolingo from $375.00 to $390.00 and gave the company an "equal weight" rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $454.20.

Duolingo Stock Performance

DUOL stock traded down $29.75 during trading on Thursday, reaching $340.59. The company had a trading volume of 2,708,339 shares, compared to its average volume of 1,584,991. The firm has a 50-day simple moving average of $407.17 and a 200-day simple moving average of $392.81. The company has a market cap of $15.48 billion, a price-to-earnings ratio of 140.16, a price-to-earnings-growth ratio of 2.47 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.81 and a current ratio of 2.81. Duolingo has a twelve month low of $180.10 and a twelve month high of $544.93.

Duolingo (NASDAQ:DUOL - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.91 EPS for the quarter, topping 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 13.24% and a return on equity of 13.32%. Duolingo's revenue for the quarter was up 41.5% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. As a group, sell-side analysts expect that Duolingo will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In other Duolingo news, insider Severin Hacker sold 10,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $344.41, for a total transaction of $3,444,100.00. Following the completion of the transaction, the insider directly owned 72 shares in the company, valued at approximately $24,797.52. This represents a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 50,000 shares of company stock worth $20,939,300 in the last ninety days. Corporate insiders own 18.30% of the company's stock.

Hedge Funds Weigh In On Duolingo

A number of large investors have recently added to or reduced their stakes in DUOL. Kiker Wealth Management LLC acquired a new stake in shares of Duolingo in the second quarter valued at about $31,000. Rise Advisors LLC grew its holdings in shares of Duolingo by 43.6% in the first quarter. Rise Advisors LLC now owns 79 shares of the company's stock valued at $25,000 after purchasing an additional 24 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Duolingo in the first quarter valued at about $25,000. Quarry LP grew its holdings in shares of Duolingo by 250.0% in the fourth quarter. Quarry LP now owns 91 shares of the company's stock valued at $30,000 after purchasing an additional 65 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Duolingo in the first quarter valued at about $28,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.