Duolingo (NASDAQ:DUOL) Price Target Cut to $500.00 by Analysts at JPMorgan Chase & Co.

Duolingo (NASDAQ:DUOL - Get Free Report) had its price target cut by equities researchers at JPMorgan Chase & Co. from $580.00 to $500.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 40.74% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Scotiabank boosted their price target 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. Argus initiated coverage on Duolingo in a research note on Wednesday, June 25th. They issued a "buy" rating and a $575.00 price target on the stock. Needham & Company LLC upped their price target on Duolingo from $400.00 to $460.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley lowered their price target on Duolingo from $515.00 to $480.00 and set an "overweight" rating for the company in a research note on Tuesday, July 8th. Finally, UBS Group reissued an "overweight" rating on shares of Duolingo in a research note on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.87.

Duolingo Stock Performance

DUOL traded down $15.22 during trading hours on Thursday, hitting $355.27. 466,968 shares of the stock were exchanged, compared to its average volume of 739,144. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of 174.64, a price-to-earnings-growth ratio of 2.85 and a beta of 0.89. Duolingo has a 12 month low of $145.05 and a 12 month high of $544.93. The stock has a 50-day simple moving average of $461.96 and a 200-day simple moving average of $390.41.

Duolingo (NASDAQ:DUOL - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.20. The company had revenue of $230.74 million for 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%. Duolingo's revenue was up 37.6% compared to the same quarter last year. Analysts anticipate that Duolingo will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Robert Meese sold 5,000 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $395.00, for a total value of $1,975,000.00. Following the transaction, the insider owned 118,805 shares in the company, valued at approximately $46,927,975. This trade represents a 4.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Severin Hacker sold 10,000 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $392.89, for a total value of $3,928,900.00. Following the completion of the sale, the insider directly owned 72 shares in the company, valued at $28,288.08. This trade represents a 99.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,000 shares of company stock valued at $24,502,900 in the last three months. Insiders own 18.30% of the company's stock.

Institutional Trading of Duolingo

A number of hedge funds have recently made changes to their positions in the company. Congress Asset Management Co. acquired a new position in shares of Duolingo in the first quarter worth approximately $15,430,000. SBI Securities Co. Ltd. boosted its position in Duolingo by 41.1% during the first quarter. SBI Securities Co. Ltd. now owns 4,158 shares of the company's stock valued at $1,291,000 after acquiring an additional 1,211 shares during the last quarter. Catalyst Capital Advisors LLC boosted its position in Duolingo by 12.6% during the first quarter. Catalyst Capital Advisors LLC now owns 6,925 shares of the company's stock valued at $2,150,000 after acquiring an additional 775 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Duolingo during the fourth quarter valued at $9,708,000. Finally, Janney Montgomery Scott LLC bought a new stake in Duolingo during the first quarter valued at $282,000. 91.59% of the stock is owned by institutional investors and hedge funds.

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.