JPMorgan Chase & Co. Lowers Duolingo (NASDAQ:DUOL) Price Target to $500.00

Duolingo (NASDAQ:DUOL - Get Free Report) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $580.00 to $500.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 38.21% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC raised their price objective on Duolingo from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group reissued an "overweight" rating on shares of Duolingo in a report on Thursday, May 22nd. Morgan Stanley lowered their price objective on Duolingo from $515.00 to $480.00 and set an "overweight" rating for the company in a report on Tuesday, July 8th. Scotiabank increased their price target on Duolingo from $405.00 to $470.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. Finally, DA Davidson reduced their price objective on Duolingo from $600.00 to $500.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $435.87.

Duolingo Stock Performance

Shares of Duolingo stock traded up $0.41 during trading on Thursday, reaching $361.76. The company's stock had a trading volume of 651,693 shares, compared to its average volume of 736,981. The company has a 50-day moving average price of $467.64 and a two-hundred day moving average price of $388.93. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.06. The firm has a market cap of $16.44 billion, a PE ratio of 178.06, a P/E/G ratio of 2.91 and a beta of 0.89. 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 released its quarterly earnings data 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 firm had revenue of $230.74 million during the quarter, compared to analysts' expectations of $223.15 million. Duolingo had a return on equity of 11.70% and a net margin of 11.93%. The company's revenue was up 37.6% compared to the same quarter last year. On average, analysts forecast that Duolingo will post 2.03 EPS for the current year.

Insider Buying and Selling at Duolingo

In other news, insider Robert Meese sold 10,000 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $367.65, for a total transaction of $3,676,500.00. Following the transaction, the insider directly owned 123,805 shares in the company, valued at $45,516,908.25. The trade was a 7.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Severin Hacker sold 10,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $314.36, for a total value of $3,143,600.00. Following the completion of the sale, the insider directly owned 72 shares of the company's stock, valued at approximately $22,633.92. The trade was a 99.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,000 shares of company stock worth $27,646,500 over the last three months. 15.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GC Wealth Management RIA LLC acquired a new stake in Duolingo during the second quarter worth about $4,354,000. Signaturefd LLC grew its stake in Duolingo by 48.9% during the second quarter. Signaturefd LLC now owns 201 shares of the company's stock worth $82,000 after buying an additional 66 shares during the last quarter. ST Germain D J Co. Inc. acquired a new stake in shares of Duolingo in the second quarter valued at $118,000. Congress Asset Management Co. lifted its holdings in Duolingo by 6.5% during the 2nd quarter. Congress Asset Management Co. now owns 52,941 shares of the company's stock worth $21,707,000 after buying an additional 3,254 shares in the last quarter. Finally, Regatta Capital Group LLC bought a new stake in shares of Duolingo during the second quarter worth approximately $253,000. Institutional investors and hedge funds 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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