Duolingo (NASDAQ:DUOL) Price Target Lowered to $245.00 at Needham & Company LLC

Duolingo (NASDAQ:DUOL) had its target price lowered by Needham & Company LLC from $267.00 to $245.00 in a research note issued to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. Wolfe Research assumed coverage on Duolingo in a research report on Tuesday, July 16th. They set a peer perform rating for the company. DA Davidson assumed coverage on Duolingo in a research report on Thursday, June 13th. They set a buy rating and a $250.00 target price for the company. JMP Securities restated a market outperform rating and set a $260.00 price objective on shares of Duolingo in a research note on Wednesday, July 10th. Evercore ISI upgraded Duolingo to a strong-buy rating in a research note on Monday, August 5th. Finally, Bank of America upgraded Duolingo from a neutral rating to a buy rating and set a $245.00 price objective for the company in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $237.40.

Duolingo Price Performance

Shares of DUOL stock opened at $187.38 on Thursday. Duolingo has a 52-week low of $121.89 and a 52-week high of $251.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.22 and a current ratio of 3.22. The firm has a market capitalization of $8.08 billion, a P/E ratio of 193.18 and a beta of 0.72. The stock has a 50 day moving average price of $188.46 and a 200 day moving average price of $198.81.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. The business had revenue of $178.30 million during the quarter, compared to analyst estimates of $177.13 million. Duolingo had a return on equity of 7.08% and a net margin of 7.82%. Duolingo’s revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS. As a group, sell-side analysts predict that Duolingo will post 1.74 earnings per share for the current year.

Insider Activity at Duolingo

In related news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total transaction of $242,670.00. Following the transaction, the insider now directly owns 144,282 shares of the company’s stock, valued at approximately $23,341,941.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $161.78, for a total transaction of $242,670.00. Following the transaction, the insider now directly owns 144,282 shares of the company’s stock, valued at approximately $23,341,941.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Skaruppa sold 2,698 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $177.29, for a total value of $478,328.42. Following the transaction, the chief financial officer now directly owns 86,709 shares in the company, valued at $15,372,638.61. The disclosure for this sale can be found here. Insiders have sold 44,198 shares of company stock valued at $8,092,373 in the last ninety days. Corporate insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Raymond James & Associates acquired a new position in shares of Duolingo in the fourth quarter valued at about $4,211,000. Cerity Partners LLC increased its holdings in shares of Duolingo by 2,767.0% in the fourth quarter. Cerity Partners LLC now owns 46,789 shares of the company’s stock valued at $10,614,000 after purchasing an additional 45,157 shares during the period. UBS Group AG increased its holdings in shares of Duolingo by 76.4% in the fourth quarter. UBS Group AG now owns 35,563 shares of the company’s stock valued at $8,067,000 after purchasing an additional 15,404 shares during the period. Trexquant Investment LP grew its holdings in Duolingo by 163.9% during the fourth quarter. Trexquant Investment LP now owns 29,441 shares of the company’s stock worth $6,679,000 after acquiring an additional 18,285 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Duolingo during the fourth quarter worth about $4,374,000. 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.