Duolingo (NASDAQ:DUOL) Price Target Lowered to $465.00 at JPMorgan Chase & Co.

Duolingo (NASDAQ:DUOL) had its price target decreased by JPMorgan Chase & Co. from $515.00 to $465.00 in a research report sent to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Duolingo from $480.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $460.00 price objective on shares of Duolingo in a research note on Wednesday, September 17th. Citizens Jmp decreased their price objective on shares of Duolingo from $475.00 to $450.00 and set a “mkt outperform” rating on the stock in a research note on Monday, July 28th. KeyCorp raised shares of Duolingo from a “sector weight” rating to an “overweight” rating and set a $460.00 price objective on the stock in a research note on Monday, August 18th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Duolingo in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Duolingo presently has an average rating of “Moderate Buy” and a consensus target price of $416.68.

Duolingo Stock Performance

Shares of NASDAQ:DUOL opened at $330.00 on Monday. The company’s 50 day simple moving average is $316.06 and its 200 day simple moving average is $381.05. The stock has a market capitalization of $15.12 billion, a price-to-earnings ratio of 135.80, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.81 and a quick ratio of 2.81. Duolingo has a 1 year low of $256.63 and a 1 year high of $544.93.

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

Insider Activity

In other news, insider Robert Meese sold 1,444 shares of Duolingo stock in a transaction on Friday, August 15th. The shares were sold at an average price of $329.03, for a total transaction of $475,119.32. Following the transaction, the insider owned 120,080 shares in the company, valued at approximately $39,509,922.40. The trade was a 1.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Skaruppa sold 10,937 shares of Duolingo stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $317.39, for a total transaction of $3,471,294.43. Following the transaction, the chief financial officer owned 43,345 shares in the company, valued at approximately $13,757,269.55. This trade represents a 20.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,791 shares of company stock valued at $26,918,301. 18.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duolingo

Hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. acquired a new position in shares of Duolingo during the first quarter worth $3,772,000. Hsbc Holdings PLC lifted its holdings in shares of Duolingo by 39.0% during the first quarter. Hsbc Holdings PLC now owns 3,186 shares of the company’s stock worth $995,000 after purchasing an additional 894 shares during the period. Encompass More Asset Management acquired a new position in Duolingo in the first quarter valued at $762,000. Jump Financial LLC boosted its position in Duolingo by 563.7% during the first quarter. Jump Financial LLC now owns 104,693 shares of the company’s stock valued at $32,511,000 after acquiring an additional 88,918 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Duolingo by 965.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,882 shares of the company’s stock valued at $2,822,000 after acquiring an additional 6,236 shares during the last quarter. Institutional investors and hedge funds 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.