Duolingo (NASDAQ:DUOL) Research Coverage Started at Scotiabank

Scotiabank initiated coverage on shares of Duolingo (NASDAQ:DUOL) in a research report released on Thursday morning, MarketBeat Ratings reports. The firm issued a sector outperform rating and a $425.00 price objective on the stock.

A number of other research analysts also recently weighed in on the stock. UBS Group upped their price objective on shares of Duolingo from $355.00 to $408.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Piper Sandler upped their price target on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. DA Davidson upped their price target on shares of Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Seaport Res Ptn downgraded shares of Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and a consensus price target of $340.70.

Duolingo Trading Down 1.2 %

Shares of Duolingo stock opened at $368.50 on Thursday. The firm has a 50-day simple moving average of $310.78 and a two-hundred day simple moving average of $239.51. The company has a market cap of $16.21 billion, a P/E ratio of 201.37 and a beta of 0.85. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $378.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The business had revenue of $192.59 million during the quarter, compared to the consensus estimate of $189.19 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The company’s revenue was up 39.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. As a group, equities analysts predict that Duolingo will post 2.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total value of $470,040.00. Following the completion of the sale, the insider now owns 136,760 shares of the company’s stock, valued at $42,855,113.60. This represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Meese sold 5,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $270.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the insider now directly owns 147,053 shares of the company’s stock, valued at approximately $39,704,310. This trade represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,819 shares of company stock worth $4,823,261. Insiders own 18.30% of the company’s stock.

Institutional Trading of Duolingo

Hedge funds have recently made changes to their positions in the company. Dragoneer Investment Group LLC purchased a new stake in shares of Duolingo in the 2nd quarter valued at approximately $204,768,000. Charles Schwab Investment Management Inc. boosted its position in shares of Duolingo by 42.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company’s stock worth $96,530,000 after purchasing an additional 101,653 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of Duolingo by 23.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 67,114 shares of the company’s stock worth $14,005,000 after purchasing an additional 12,860 shares during the period. Lisanti Capital Growth LLC boosted its position in shares of Duolingo by 17.8% during the 3rd quarter. Lisanti Capital Growth LLC now owns 11,645 shares of the company’s stock worth $3,284,000 after purchasing an additional 1,760 shares during the period. Finally, State of Michigan Retirement System purchased a new position in shares of Duolingo during the 2nd quarter worth approximately $1,857,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

About Duolingo

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.