DA Davidson Begins Coverage on Duolingo (NASDAQ:DUOL)

DA Davidson began coverage on shares of Duolingo (NASDAQ:DUOL) in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $250.00 price objective on the stock.

A number of other research firms have also issued reports on DUOL. JMP Securities upgraded Duolingo from a market perform rating to a market outperform rating and set a $260.00 target price for the company in a report on Tuesday, May 28th. Piper Sandler restated an overweight rating and issued a $265.00 target price (down previously from $282.00) on shares of Duolingo in a report on Friday, May 10th. Bank of America increased their target price on Duolingo from $230.00 to $260.00 and gave the company a neutral rating in a report on Thursday, February 29th. JPMorgan Chase & Co. began coverage on Duolingo in a report on Monday, March 11th. They set an overweight rating and a $270.00 price objective for the company. Finally, Needham & Company LLC increased their price objective on Duolingo from $241.00 to $267.00 and gave the stock a buy rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Duolingo has an average rating of Moderate Buy and an average target price of $246.70.

Duolingo Stock Performance

DUOL opened at $199.14 on Thursday. The firm has a market cap of $8.59 billion, a PE ratio of 205.30 and a beta of 0.72. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $202.70 and a 200-day simple moving average of $207.78. Duolingo has a fifty-two week low of $121.89 and a fifty-two week high of $251.30.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, May 8th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.27. The company had revenue of $167.70 million during the quarter, compared to analyst estimates of $165.60 million. Duolingo had a return on equity of 7.08% and a net margin of 7.82%. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. As a group, equities analysts predict that Duolingo will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling at Duolingo

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $247.82, for a total transaction of $371,730.00. Following the transaction, the insider now directly owns 123,005 shares in the company, valued at $30,483,099.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Ahn Luis Von sold 12,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $218.40, for a total value of $2,620,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $247.82, for a total value of $371,730.00. Following the completion of the sale, the insider now directly owns 123,005 shares in the company, valued at $30,483,099.10. The disclosure for this sale can be found here. Insiders have sold a total of 67,198 shares of company stock worth $14,719,998 over the last three months. Corporate insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky grew its position in shares of Duolingo by 7.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 54,254 shares of the company’s stock valued at $11,967,000 after purchasing an additional 3,750 shares during the last quarter. Tidal Investments LLC grew its position in shares of Duolingo by 30.9% in the first quarter. Tidal Investments LLC now owns 4,360 shares of the company’s stock valued at $962,000 after purchasing an additional 1,030 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Duolingo by 27.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 126,301 shares of the company’s stock valued at $27,859,000 after purchasing an additional 27,048 shares during the last quarter. Whale Rock Capital Management LLC grew its position in shares of Duolingo by 23.9% in the first quarter. Whale Rock Capital Management LLC now owns 1,275,189 shares of the company’s stock valued at $281,281,000 after purchasing an additional 245,599 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Duolingo by 73.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 364,755 shares of the company’s stock valued at $80,459,000 after purchasing an additional 154,659 shares during the last quarter. 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.