Duolingo (NASDAQ:DUOL) Given “Overweight” Rating at Piper Sandler

Duolingo (NASDAQ:DUOL)‘s stock had its “overweight” rating restated by Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They presently have a $265.00 target price on the stock, down from their previous target price of $282.00. Piper Sandler’s price target would indicate a potential upside of 38.48% from the company’s current price.

Several other brokerages have also recently weighed in on DUOL. JPMorgan Chase & Co. assumed coverage on shares of Duolingo in a research report on Monday, March 11th. They issued an “overweight” rating and a $270.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of Duolingo from $160.00 to $190.00 and gave the stock a “sell” rating in a report on Thursday, February 29th. UBS Group upped their price objective on shares of Duolingo from $230.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Bank of America upped their price objective on shares of Duolingo from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Seaport Res Ptn restated a “buy” rating on shares of Duolingo in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $244.63.

Duolingo Price Performance

NASDAQ:DUOL traded down $9.22 during trading hours on Friday, hitting $191.36. 1,076,225 shares of the stock traded hands, compared to its average volume of 766,049. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 565.49 and a beta of 0.82. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.03. Duolingo has a 1 year low of $121.89 and a 1 year high of $251.30. The stock has a 50 day moving average price of $220.45 and a 200 day moving average price of $207.12.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.27. The firm had revenue of $167.70 million for the quarter, compared to analysts’ expectations of $165.60 million. Duolingo had a net margin of 3.03% and a return on equity of 2.64%. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) earnings per share. Sell-side analysts forecast that Duolingo will post 1.38 EPS for the current fiscal year.

Insider Activity

In related news, Director Amy Bohutinsky sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $202.14, for a total value of $3,032,100.00. Following the completion of the transaction, the director now directly owns 4,253 shares of the company’s stock, valued at approximately $859,701.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Amy Bohutinsky sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $202.14, for a total transaction of $3,032,100.00. Following the completion of the sale, the director now directly owns 4,253 shares of the company’s stock, valued at approximately $859,701.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $218.42, for a total value of $2,184,200.00. Following the sale, the insider now directly owns 72 shares of the company’s stock, valued at $15,726.24. The disclosure for this sale can be found here. Insiders have sold 123,223 shares of company stock worth $26,893,230 in the last quarter. Corporate insiders own 19.85% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Discovery Value Fund purchased a new position in shares of Duolingo in the 4th quarter valued at about $27,000. FSC Wealth Advisors LLC purchased a new position in shares of Duolingo in the 4th quarter valued at about $39,000. Bamco Inc. NY purchased a new position in shares of Duolingo in the 3rd quarter valued at about $39,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Duolingo in the 4th quarter valued at about $73,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Duolingo in the 4th quarter valued at about $92,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.