Needham & Company LLC Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

Duolingo (NASDAQ:DUOL) had its price objective raised by Needham & Company LLC from $370.00 to $385.00 in a report published on Thursday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

DUOL has been the topic of a number of other reports. The Goldman Sachs Group upped their price objective on Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler raised their price target on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. DA Davidson boosted their price objective on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America cut shares of Duolingo from a “buy” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $375.00 in a report on Wednesday, December 11th. Finally, UBS Group boosted their price target on Duolingo from $355.00 to $408.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Duolingo has an average rating of “Moderate Buy” and an average price target of $353.90.

Duolingo Stock Performance

Shares of DUOL traded up $4.01 during trading hours on Thursday, hitting $339.23. The company had a trading volume of 96,814 shares, compared to its average volume of 684,636. The firm has a market cap of $14.92 billion, a price-to-earnings ratio of 185.37 and a beta of 0.85. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $321.84 and a 200-day moving average of $249.57. Duolingo has a 12 month low of $145.05 and a 12 month high of $378.48.

Duolingo (NASDAQ:DUOL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.14. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The firm had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $189.19 million. During the same period in the prior year, the firm earned $0.06 EPS. The business’s revenue was up 39.9% on a year-over-year basis. Equities analysts anticipate that Duolingo will post 2.02 EPS for the current fiscal year.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction on Monday, October 7th. The stock was sold at an average price of $280.91, for a total transaction of $421,365.00. Following the sale, the insider now directly owns 138,260 shares in the company, valued at $38,838,616.60. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Severin Hacker sold 188,901 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $339.54, for a total transaction of $64,139,445.54. Following the transaction, the insider now owns 72 shares of the company’s stock, valued at approximately $24,446.88. The trade was a 99.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 240,160 shares of company stock worth $81,220,216. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DUOL. Dragoneer Investment Group LLC bought a new stake in shares of Duolingo in the 2nd quarter worth approximately $204,768,000. FMR LLC grew its position in Duolingo by 26.9% during the third quarter. FMR LLC now owns 2,663,234 shares of the company’s stock worth $751,085,000 after buying an additional 564,173 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Duolingo by 30,909.9% during the third quarter. International Assets Investment Management LLC now owns 355,063 shares of the company’s stock valued at $100,135,000 after buying an additional 353,918 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Duolingo by 153.1% in the second quarter. Bank of New York Mellon Corp now owns 395,123 shares of the company’s stock valued at $82,450,000 after acquiring an additional 238,990 shares during the period. Finally, Spyglass Capital Management LLC bought a new stake in shares of Duolingo in the third quarter worth about $38,512,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.