JPMorgan Chase & Co. Cuts Duolingo (NASDAQ:DUOL) Price Target to $360.00

Duolingo (NASDAQ:DUOL) had its target price decreased by JPMorgan Chase & Co. from $410.00 to $360.00 in a research note issued to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. DA Davidson upped their price objective on shares of Duolingo from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. JMP Securities reaffirmed a “market perform” rating on shares of Duolingo in a research note on Friday, February 14th. UBS Group set a $400.00 price target on Duolingo in a research note on Tuesday, March 18th. Bank of America lowered Duolingo from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $375.00 in a research report on Wednesday, December 11th. Finally, Barclays increased their target price on Duolingo from $295.00 to $330.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $372.92.

Duolingo Stock Performance

NASDAQ DUOL opened at $316.94 on Tuesday. The firm’s 50 day simple moving average is $340.55 and its 200 day simple moving average is $328.34. The firm has a market capitalization of $14.34 billion, a price-to-earnings ratio of 173.19 and a beta of 0.91. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo has a 1 year low of $145.05 and a 1 year high of $441.77.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Thursday, February 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.19). Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The business had revenue of $209.55 million during the quarter, compared to analyst estimates of $205.49 million. As a group, research analysts expect that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insider Activity at Duolingo

In related news, CFO Matthew Skaruppa sold 4,464 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $313.55, for a total value of $1,399,687.20. Following the transaction, the chief financial officer now owns 63,266 shares in the company, valued at $19,837,054.30. The trade was a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Natalie Glance sold 9,020 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $290.59, for a total value of $2,621,121.80. Following the sale, the insider now owns 130,733 shares of the company’s stock, valued at approximately $37,989,702.47. The trade was a 6.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,332 shares of company stock worth $33,442,107 over the last ninety days. Insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Duolingo by 39.9% during the 4th quarter. FMR LLC now owns 3,726,561 shares of the company’s stock valued at $1,208,263,000 after acquiring an additional 1,063,327 shares during the period. Vanguard Group Inc. raised its holdings in shares of Duolingo by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,542,194 shares of the company’s stock valued at $1,148,486,000 after purchasing an additional 70,705 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Duolingo by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,339,780 shares of the company’s stock worth $434,398,000 after purchasing an additional 10,638 shares in the last quarter. Invesco Ltd. boosted its position in shares of Duolingo by 53.5% during the 4th quarter. Invesco Ltd. now owns 1,085,066 shares of the company’s stock worth $351,811,000 after purchasing an additional 378,225 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Duolingo by 3.6% in the 3rd quarter. State Street Corp now owns 1,076,273 shares of the company’s stock valued at $303,530,000 after buying an additional 36,923 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

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.