Duolingo (NASDAQ:DUOL) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Duolingo (NASDAQ:DUOL) from a neutral rating to a buy rating in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has $245.00 price target on the stock.

A number of other research analysts have also commented on DUOL. Piper Sandler restated an overweight rating and issued a $265.00 target price (down from $282.00) on shares of Duolingo in a research note on Friday, May 10th. Needham & Company LLC upped their target price on Duolingo from $241.00 to $267.00 and gave the company a buy rating in a research note on Thursday, May 9th. JMP Securities reiterated a market outperform rating and set a $260.00 price objective on shares of Duolingo in a research note on Wednesday, July 10th. Wolfe Research initiated coverage on Duolingo in a research note on Tuesday, July 16th. They set a peer perform rating for the company. Finally, DA Davidson initiated coverage on Duolingo in a research note on Thursday, June 13th. They set a buy rating and a $250.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Duolingo presently has an average rating of Moderate Buy and a consensus target price of $245.20.

Duolingo Stock Down 1.9 %

DUOL opened at $169.92 on Friday. Duolingo has a 1-year low of $121.89 and a 1-year high of $251.30. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 175.18 and a beta of 0.73. The business has a 50 day moving average of $191.42 and a 200-day moving average of $200.87.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.27. Duolingo had a return on equity of 7.08% and a net margin of 7.82%. The company had revenue of $167.70 million during the quarter, compared to analysts’ expectations of $165.60 million. During the same period in the prior year, the business earned ($0.06) earnings per share. Duolingo’s revenue for the quarter was up 44.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Duolingo will post 1.74 earnings per share for the current year.

Insider Transactions at Duolingo

In other news, insider Severin Hacker sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $223.47, for a total transaction of $2,234,700.00. Following the sale, the insider now owns 72 shares in the company, valued at $16,089.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Severin Hacker sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $223.47, for a total value of $2,234,700.00. Following the transaction, the insider now owns 72 shares in the company, valued at $16,089.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Skaruppa sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $223.46, for a total value of $1,787,680.00. Following the completion of the transaction, the chief financial officer now owns 64,523 shares in the company, valued at approximately $14,418,309.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,198 shares of company stock worth $11,929,033. Insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Hedge funds have recently added to or reduced their stakes in the company. Discovery Value Fund bought a new position in Duolingo in the fourth quarter valued at about $27,000. Blue Trust Inc. bought a new position in Duolingo during the second quarter worth about $32,000. GAMMA Investing LLC boosted its holdings in Duolingo by 350.0% during the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after buying an additional 133 shares during the last quarter. Fifth Third Bancorp bought a new position in Duolingo during the second quarter worth about $40,000. Finally, AlphaCentric Advisors LLC bought a new position in Duolingo during the second quarter worth about $42,000. 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.