DA Davidson Cuts Duolingo (NASDAQ:DUOL) Price Target to $500.00

Duolingo (NASDAQ:DUOL) had its price objective trimmed by DA Davidson from $600.00 to $500.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

DUOL has been the subject of several other reports. UBS Group restated an “overweight” rating on shares of Duolingo in a report on Thursday, May 22nd. Needham & Company LLC increased their price target on shares of Duolingo from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Barclays lifted their price objective on Duolingo from $330.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Evercore ISI upped their target price on Duolingo from $400.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, Piper Sandler set a $375.00 price target on Duolingo in a research report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $443.53.

Duolingo Stock Performance

Shares of DUOL stock opened at $411.26 on Wednesday. The stock has a fifty day moving average price of $472.84 and a 200 day moving average price of $384.68. The stock has a market cap of $18.69 billion, a PE ratio of 202.59, a P/E/G ratio of 3.05 and a beta of 1.00. Duolingo has a 1 year low of $145.05 and a 1 year high of $544.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.68 and a current ratio of 2.68.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.20. The business had revenue of $230.74 million during the quarter, compared to analysts’ expectations of $223.15 million. Duolingo had a return on equity of 11.70% and a net margin of 11.93%. The business’s quarterly revenue was up 37.6% on a year-over-year basis. Sell-side analysts forecast that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $292.43, for a total value of $2,924,300.00. Following the completion of the sale, the insider now directly owns 72 shares in the company, valued at approximately $21,054.96. The trade was a 99.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Natalie Glance sold 3,482 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $319.59, for a total transaction of $1,112,812.38. Following the transaction, the insider now directly owns 127,251 shares of the company’s stock, valued at $40,668,147.09. This trade represents a 2.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,482 shares of company stock valued at $30,373,992 in the last quarter. 15.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Duolingo

A number of hedge funds have recently made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new position in shares of Duolingo in the 1st quarter valued at about $25,000. Rise Advisors LLC raised its holdings in Duolingo by 43.6% in the first quarter. Rise Advisors LLC now owns 79 shares of the company’s stock valued at $25,000 after buying an additional 24 shares during the period. Summit Securities Group LLC acquired a new position in Duolingo during the first quarter valued at approximately $28,000. Quarry LP lifted its position in Duolingo by 250.0% during the fourth quarter. Quarry LP now owns 91 shares of the company’s stock valued at $30,000 after buying an additional 65 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in Duolingo by 4,750.0% during the first quarter. Brooklyn Investment Group now owns 97 shares of the company’s stock worth $30,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Duolingo Company Profile

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.