Duolingo (NASDAQ:DUOL) Upgraded at Zacks Research

Zacks Research upgraded shares of Duolingo (NASDAQ:DUOL) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Robert W. Baird started coverage on Duolingo in a report on Friday, September 5th. They issued a “neutral” rating and a $280.00 target price for the company. DA Davidson lowered Duolingo from a “buy” rating to a “neutral” rating and reduced their target price for the company from $500.00 to $300.00 in a report on Thursday, September 4th. KeyCorp raised Duolingo from a “sector weight” rating to an “overweight” rating and set a $460.00 target price for the company in a report on Monday, August 18th. Barclays upped their target price on Duolingo from $375.00 to $390.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Duolingo in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $420.63.

Duolingo Stock Performance

Shares of Duolingo stock opened at $285.91 on Monday. The company has a market cap of $13.10 billion, a PE ratio of 117.66, a price-to-earnings-growth ratio of 1.82 and a beta of 0.85. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $341.16 and a 200-day moving average price of $380.53. Duolingo has a 52 week low of $212.85 and a 52 week high of $544.93.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.36. The company had revenue of $252.27 million during the quarter, compared to analyst estimates of $240.84 million. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.Duolingo’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. Equities analysts anticipate that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Stephen C. Chen sold 1,515 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $321.36, for a total value of $486,860.40. Following the completion of the transaction, the general counsel directly owned 32,638 shares of the company’s stock, valued at $10,488,547.68. This trade represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Skaruppa sold 10,937 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $317.39, for a total value of $3,471,294.43. Following the completion of the transaction, the chief financial officer directly owned 43,345 shares of the company’s stock, valued at $13,757,269.55. The trade was a 20.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,508 shares of company stock valued at $28,428,221 over the last three months. Insiders own 15.67% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Several large investors have recently added to or reduced their stakes in DUOL. T. Rowe Price Investment Management Inc. boosted its stake in Duolingo by 110.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 990,903 shares of the company’s stock valued at $307,716,000 after buying an additional 520,069 shares during the period. Norges Bank bought a new stake in Duolingo during the second quarter worth about $192,965,000. Invesco Ltd. lifted its stake in Duolingo by 24.1% during the first quarter. Invesco Ltd. now owns 1,346,278 shares of the company’s stock worth $418,073,000 after purchasing an additional 261,212 shares during the last quarter. GAMMA Investing LLC lifted its stake in Duolingo by 41,959.1% during the first quarter. GAMMA Investing LLC now owns 239,737 shares of the company’s stock worth $74,448,000 after purchasing an additional 239,167 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Duolingo by 105.9% during the second quarter. AQR Capital Management LLC now owns 415,221 shares of the company’s stock worth $170,249,000 after purchasing an additional 213,529 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.