Duolingo (NASDAQ:DUOL) Price Target Raised to $460.00 at Needham & Company LLC

Duolingo (NASDAQ:DUOL - Free Report) had its target price increased by Needham & Company LLC from $400.00 to $460.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently issued reports on DUOL. JMP Securities reaffirmed a "market perform" rating on shares of Duolingo in a research note on Friday, February 14th. Piper Sandler upped their price target on shares of Duolingo from $351.00 to $390.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Citizens Jmp raised Duolingo from a "market perform" rating to an "outperform" rating and set a $400.00 target price on the stock in a report on Tuesday, March 18th. Morgan Stanley assumed coverage on Duolingo in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $435.00 price target for the company. Finally, Barclays lifted their price objective on Duolingo from $295.00 to $330.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Duolingo currently has an average rating of "Moderate Buy" and a consensus price target of $432.71.

Duolingo Price Performance

NASDAQ DUOL traded up $7.71 on Friday, hitting $494.13. 1,868,807 shares of the company's stock were exchanged, compared to its average volume of 737,615. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo has a 52 week low of $145.05 and a 52 week high of $503.55. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 270.02 and a beta of 0.88. The stock has a 50-day moving average of $326.31 and a 200-day moving average of $337.19.

Duolingo (NASDAQ:DUOL - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.52 by $0.20. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The firm had revenue of $230.74 million during the quarter, compared to the consensus estimate of $223.15 million. The business's revenue was up 37.6% on a year-over-year basis. Analysts expect that Duolingo will post 2.03 earnings per share for the current year.

Insider Activity

In other Duolingo news, General Counsel Stephen C. Chen sold 2,064 shares of Duolingo stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total transaction of $898,087.68. Following the transaction, the general counsel now directly owns 34,634 shares of the company's stock, valued at $15,069,946.08. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ahn Luis Von sold 8,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $434.79, for a total transaction of $3,478,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,868 shares of company stock worth $37,549,300. Company insiders own 18.30% of the company's stock.

Hedge Funds Weigh In On Duolingo

Several hedge funds have recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new position in Duolingo in the fourth quarter valued at about $1,994,000. Taika Capital LP purchased a new stake in shares of Duolingo in the fourth quarter worth $2,697,000. Lecap Asset Management Ltd. purchased a new stake in shares of Duolingo in the 4th quarter valued at about $429,000. Diversified Trust Co bought a new stake in Duolingo during the fourth quarter valued at approximately $784,000. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Duolingo by 6.1% during the 4th quarter. Bleakley Financial Group LLC now owns 995 shares of the company's stock worth $323,000 after acquiring an additional 57 shares during the last quarter. 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.