Duolingo (NASDAQ:DUOL) Earns Buy Rating from Analysts at Citigroup

Citigroup assumed coverage on shares of Duolingo (NASDAQ:DUOL) in a report released on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $400.00 price objective on the stock.

A number of other research analysts also recently weighed in on the company. Piper Sandler set a $375.00 price objective on Duolingo in a research note on Friday, May 2nd. The Goldman Sachs Group raised their target price on Duolingo from $340.00 to $403.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Argus started coverage on Duolingo in a report on Wednesday, June 25th. They issued a “buy” rating and a $575.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Duolingo from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, KeyCorp raised Duolingo from a “sector weight” rating to an “overweight” rating and set a $460.00 target price on the stock in a report on Monday. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $451.35.

Duolingo Stock Down 0.5%

Shares of DUOL stock opened at $338.88 on Monday. The stock’s 50 day simple moving average is $383.78 and its 200 day simple moving average is $391.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.81 and a current ratio of 2.81. Duolingo has a twelve month low of $202.38 and a twelve month high of $544.93. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 139.46, a PEG ratio of 2.27 and a beta of 0.87.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.36. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.The business had revenue of $252.27 million for the quarter, compared to the consensus estimate of $240.84 million. During the same period last year, the business earned $0.51 EPS. The firm’s revenue was up 41.5% compared to the same quarter last year. As a group, research analysts predict that Duolingo will post 2.03 EPS for the current year.

Insiders Place Their Bets

In related news, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $344.41, for a total value of $3,444,100.00. Following the sale, the insider owned 72 shares of the company’s stock, valued at $24,797.52. The trade was a 99.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Skaruppa sold 2,797 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $329.03, for a total value of $920,296.91. Following the completion of the sale, the chief financial officer directly owned 52,904 shares in the company, valued at approximately $17,407,003.12. This represents a 5.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,056 shares of company stock worth $23,589,966 over the last quarter. Corporate insiders own 15.67% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Duolingo by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,647,951 shares of the company’s stock valued at $1,495,733,000 after purchasing an additional 116,135 shares during the last quarter. Invesco Ltd. raised its position in Duolingo by 24.1% in the 1st quarter. Invesco Ltd. now owns 1,346,278 shares of the company’s stock valued at $418,073,000 after purchasing an additional 261,212 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Duolingo by 0.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company’s stock valued at $434,398,000 after purchasing an additional 10,638 shares during the last quarter. State Street Corp raised its position in Duolingo by 0.5% in the 2nd quarter. State Street Corp now owns 1,164,387 shares of the company’s stock valued at $477,422,000 after purchasing an additional 6,109 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in Duolingo by 110.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company’s stock valued at $307,716,000 after purchasing an additional 520,069 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

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.