Duolingo (NASDAQ:DUOL) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Duolingo (NASDAQ:DUOL) from a neutral rating to a buy rating in a report issued on Friday, MarketBeat reports. Bank of America currently has $245.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reiterated an overweight rating and set a $265.00 target price (down from $282.00) on shares of Duolingo in a research report on Friday, May 10th. JMP Securities restated a market outperform rating and issued a $260.00 price target on shares of Duolingo in a research report on Wednesday, July 10th. Wolfe Research initiated coverage on shares of Duolingo in a research note on Tuesday, July 16th. They issued a peer perform rating for the company. DA Davidson initiated coverage on shares of Duolingo in a research note on Thursday, June 13th. They issued a buy rating and a $250.00 price objective for the company. Finally, Needham & Company LLC lifted their price objective on shares of Duolingo from $241.00 to $267.00 and gave the company a buy rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Duolingo currently has a consensus rating of Moderate Buy and a consensus target price of $245.20.

Duolingo Stock Down 1.9 %

NASDAQ:DUOL opened at $169.92 on Friday. The firm’s 50 day simple moving average is $191.42 and its 200 day simple moving average is $200.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.22 and a quick ratio of 3.22. Duolingo has a one year low of $121.89 and a one year high of $251.30. The company has a market cap of $7.33 billion, a PE ratio of 175.18 and a beta of 0.73.

Duolingo (NASDAQ:DUOL) last posted its earnings results on Wednesday, May 8th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.30 by $0.27. Duolingo had a net margin of 7.82% and a return on equity of 7.08%. The business had revenue of $167.70 million for the quarter, compared to the consensus estimate of $165.60 million. During the same period last year, the company earned ($0.06) EPS. The firm’s revenue was up 44.9% compared to the same quarter last year. On average, research analysts anticipate that Duolingo will post 1.74 earnings per share for the current year.

Insider Buying and Selling at Duolingo

In other Duolingo news, CEO Ahn Luis Von sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $223.51, for a total transaction of $2,682,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Duolingo news, CEO Ahn Luis Von sold 12,000 shares of Duolingo stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $223.51, for a total transaction of $2,682,120.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction on 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 56,198 shares of company stock worth $11,929,033. 18.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Duolingo

A number of hedge funds have recently bought and sold shares of DUOL. Raymond James & Associates purchased a new position in shares of Duolingo in the 4th quarter worth about $4,211,000. Cerity Partners LLC boosted its holdings in shares of Duolingo by 2,767.0% in the 4th quarter. Cerity Partners LLC now owns 46,789 shares of the company’s stock worth $10,614,000 after buying an additional 45,157 shares during the last quarter. UBS Group AG boosted its holdings in shares of Duolingo by 76.4% in the 4th quarter. UBS Group AG now owns 35,563 shares of the company’s stock worth $8,067,000 after buying an additional 15,404 shares during the last quarter. Trexquant Investment LP boosted its holdings in shares of Duolingo by 163.9% in the 4th quarter. Trexquant Investment LP now owns 29,441 shares of the company’s stock worth $6,679,000 after buying an additional 18,285 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Duolingo in the 4th quarter worth about $4,374,000. 91.59% of the stock is 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.