JPMorgan Chase & Co. Increases Duolingo (NASDAQ:DUOL) Price Target to $125.00

Duolingo (NASDAQ:DUOL) had its target price raised by JPMorgan Chase & Co. from $94.00 to $125.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 6.28% from the company’s previous close.

DUOL has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Duolingo in a research report on Tuesday, May 5th. DA Davidson reissued a “neutral” rating and issued a $120.00 price objective on shares of Duolingo in a research note on Monday, June 29th. UBS Group restated a “neutral” rating on shares of Duolingo in a report on Wednesday, June 17th. Wells Fargo & Company upped their target price on Duolingo from $81.00 to $82.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Finally, Evercore set a $97.00 price target on Duolingo in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $167.17.

Duolingo Stock Up 3.4%

Shares of DUOL traded up $4.44 during mid-day trading on Friday, hitting $133.38. 402,591 shares of the company’s stock were exchanged, compared to its average volume of 2,116,300. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 1.02 and a beta of 0.88. The firm has a fifty day moving average of $118.43 and a two-hundred day moving average of $119.19. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.07. Duolingo has a twelve month low of $87.89 and a twelve month high of $468.00.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings data on Monday, May 4th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $291.97 million during the quarter, compared to analyst estimates of $288.60 million. Duolingo had a net margin of 38.44% and a return on equity of 14.07%. Duolingo’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. On average, sell-side analysts forecast that Duolingo will post 2.76 earnings per share for the current year.

Insider Activity at Duolingo

In other Duolingo news, insider Robert Meese sold 1,420 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $112.16, for a total value of $159,267.20. Following the sale, the insider directly owned 170,745 shares in the company, valued at $19,150,759.20. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalie Glance sold 3,360 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $113.59, for a total transaction of $381,662.40. Following the transaction, the insider owned 173,401 shares in the company, valued at approximately $19,696,619.59. The trade was a 1.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 9,506 shares of company stock worth $1,073,864 in the last ninety days. 16.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Duolingo

A number of institutional investors have recently added to or reduced their stakes in DUOL. Generali Investments Management Co LLC bought a new position in Duolingo during the second quarter valued at about $565,000. Everhart Financial Group Inc. bought a new stake in shares of Duolingo in the 2nd quarter worth approximately $313,000. FNY Investment Advisers LLC acquired a new stake in shares of Duolingo during the 2nd quarter worth approximately $34,000. GAMMA Investing LLC grew its holdings in shares of Duolingo by 103.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,324 shares of the company’s stock worth $152,000 after purchasing an additional 672 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Duolingo by 416.0% during the first quarter. Pacer Advisors Inc. now owns 238,458 shares of the company’s stock valued at $23,505,000 after purchasing an additional 192,245 shares during the period. 91.59% of the stock is owned by institutional investors and hedge funds.

Duolingo Company Profile

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.