Duolingo (NYSE:DUOL) Upgraded to “Buy” at Zacks Investment Research

Duolingo (NYSE:DUOLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The firm currently has a $90.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.71% from the stock’s previous close.

According to Zacks, “Duolingo Inc. provides mobile language learning platform. Duolingo Inc. is based in PITTSBURGH. “

A number of other equities analysts also recently issued reports on the company. Bank of America lowered their price objective on Duolingo from $165.00 to $135.00 in a research report on Friday, May 13th. Piper Sandler lowered their target price on Duolingo from $137.00 to $111.00 and set an “overweight” rating for the company in a report on Friday, March 4th. KeyCorp upgraded Duolingo from a “sector weight” rating to an “overweight” rating and set a $112.00 target price for the company in a report on Monday, March 21st. JMP Securities reiterated a “buy” rating and issued a $128.00 target price on shares of Duolingo in a report on Tuesday, April 5th. Finally, Evercore ISI decreased their price objective on Duolingo from $195.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 4th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Duolingo has an average rating of “Buy” and an average target price of $119.89.

Shares of DUOL stock traded down $3.46 during mid-day trading on Friday, reaching $76.46. 444,747 shares of the stock traded hands, compared to its average volume of 480,374. The stock’s fifty day simple moving average is $87.63 and its two-hundred day simple moving average is $98.63. Duolingo has a 1-year low of $60.50 and a 1-year high of $204.99. The company has a market cap of $2.95 billion and a price-to-earnings ratio of -43.44. The company has a quick ratio of 5.20, a current ratio of 4.72 and a debt-to-equity ratio of 0.05.

Duolingo (NYSE:DUOLGet Rating) last issued its quarterly earnings data 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. Duolingo had a negative return on equity of 16.22% and a negative net margin of 21.26%. The company had revenue of $81.22 million during the quarter, compared to the consensus estimate of $77.56 million. During the same period last year, the company earned ($1.04) earnings per share. The firm’s revenue was up 46.7% compared to the same quarter last year. On average, equities research analysts anticipate that Duolingo will post -1.73 EPS for the current fiscal year.

In other Duolingo news, major shareholder Durable Capital Partners Lp acquired 136,968 shares of the business’s stock in a transaction on Monday, May 9th. The shares were acquired at an average price of $75.29 per share, with a total value of $10,312,320.72. Following the completion of the transaction, the insider now owns 3,361,913 shares in the company, valued at $253,118,429.77. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Matthew Skaruppa sold 432 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $90.97, for a total value of $39,299.04. Following the completion of the transaction, the chief financial officer now directly owns 56,391 shares in the company, valued at approximately $5,129,889.27. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 711,938 shares of company stock worth $63,055,342 and have sold 1,167 shares worth $106,162.

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley bought a new stake in shares of Duolingo in the third quarter valued at $147,150,000. Nordea Investment Management AB bought a new stake in shares of Duolingo in the fourth quarter valued at $4,113,000. Swiss National Bank bought a new stake in shares of Duolingo in the fourth quarter valued at $1,496,000. Temasek Holdings Private Ltd bought a new stake in shares of Duolingo in the third quarter valued at $49,908,000. Finally, Zenyatta Capital Management LP bought a new stake in shares of Duolingo in the fourth quarter valued at $2,228,000. Hedge funds and other institutional investors own 40.17% of the company’s stock.

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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