Duolingo (NYSE:DUOL) Upgraded at Raymond James

Duolingo (NYSE:DUOL – Get Rating) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, The Fly reports.

A number of other brokerages also recently issued reports on DUOL. Piper Sandler reduced their price target on Duolingo from $137.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, March 4th. Evercore ISI dropped their price objective on shares of Duolingo from $195.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 4th. Zacks Investment Research raised shares of Duolingo from a “sell” rating to a “hold” rating in a report on Thursday. JMP Securities reissued a “buy” rating and set a $128.00 price objective on shares of Duolingo in a report on Tuesday, April 5th. Finally, KeyCorp raised shares of Duolingo from a “sector weight” rating to an “overweight” rating and set a $112.00 price objective on the stock in a report on Monday, March 21st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Duolingo currently has an average rating of “Buy” and a consensus target price of $135.75.

Shares of DUOL stock opened at $66.98 on Friday. The business’s fifty day simple moving average is $87.21 and its 200-day simple moving average is $103.35. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.06. Duolingo has a 12-month low of $60.50 and a 12-month high of $204.99.

Duolingo (NYSE:DUOL – Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.26. The business had revenue of $81.22 million for the quarter, compared to the consensus estimate of $77.56 million. Duolingo had a negative return on equity of 28.90% and a negative net margin of 23.98%. The business’s quarterly revenue was up 46.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.04) earnings per share. As a group, research analysts forecast that Duolingo will post -2.02 earnings per share for the current year.

In other Duolingo news, major shareholder Durable Capital Partners Lp purchased 136,968 shares of the stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $75.29 per share, with a total value of $10,312,320.72. Following the completion of the acquisition, the insider now owns 3,361,913 shares in the company, valued at $253,118,429.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Natalie Glance sold 543 shares of the stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $98.01, for a total transaction of $53,219.43. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 741,567 shares of company stock worth $65,732,619 and sold 2,536 shares worth $253,384.

Hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. purchased a new stake in shares of Duolingo during the 3rd quarter worth about $35,000. Prospera Financial Services Inc purchased a new stake in shares of Duolingo during the 1st quarter worth about $31,000. Daiwa Securities Group Inc. acquired a new position in shares of Duolingo during the 4th quarter worth about $42,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Duolingo during the 1st quarter worth about $57,000. Finally, Royal Bank of Canada acquired a new position in shares of Duolingo during the 3rd quarter worth about $140,000. 40.17% of the stock is currently owned by institutional investors and hedge funds.

About Duolingo (Get Rating)

Duolingo, Inc develops a language-learning website and mobile app in the United States and China. The company offers courses in 40 different languages, including Spanish, English, French, Japanese, German, Italian, Chinese, Portuguese, and others. It also provides a digital language proficiency assessment exam.

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