JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

Duolingo (NASDAQ:DUOL) had its price target upped by investment analysts at JPMorgan Chase & Co. from $400.00 to $410.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 31.38% from the company’s previous close.

Other analysts also recently issued reports about the company. Jefferies Financial Group assumed coverage on Duolingo in a research note on Friday, January 24th. They set a “hold” rating and a $370.00 target price for the company. UBS Group increased their price target on shares of Duolingo from $408.00 to $410.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JMP Securities reaffirmed a “market perform” rating on shares of Duolingo in a research report on Friday, February 14th. Needham & Company LLC increased their price target on shares of Duolingo from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Piper Sandler increased their price target on shares of Duolingo from $351.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and an average target price of $369.09.

Duolingo Stock Down 17.0 %

Shares of NASDAQ DUOL opened at $312.07 on Friday. Duolingo has a 12-month low of $145.05 and a 12-month high of $441.77. The company has a market cap of $13.73 billion, a P/E ratio of 170.53 and a beta of 0.89. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $359.71 and a 200 day moving average price of $310.97.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.19). The company had revenue of $209.55 million during the quarter, compared to analyst estimates of $205.49 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. Research analysts anticipate that Duolingo will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Duolingo news, General Counsel Stephen C. Chen sold 2,064 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $435.12, for a total value of $898,087.68. Following the sale, the general counsel now owns 34,634 shares in the company, valued at approximately $15,069,946.08. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Skaruppa sold 4,464 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $313.55, for a total transaction of $1,399,687.20. Following the completion of the sale, the chief financial officer now owns 63,266 shares in the company, valued at $19,837,054.30. The trade was a 6.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 305,639 shares of company stock valued at $105,445,057 over the last quarter. Insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Large investors have recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Duolingo in the fourth quarter valued at approximately $1,994,000. Lecap Asset Management Ltd. acquired a new stake in shares of Duolingo in the fourth quarter valued at approximately $429,000. Charles Schwab Investment Management Inc. increased its stake in shares of Duolingo by 42.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 342,280 shares of the company’s stock valued at $96,530,000 after purchasing an additional 101,653 shares during the period. Lisanti Capital Growth LLC increased its stake in shares of Duolingo by 17.8% in the third quarter. Lisanti Capital Growth LLC now owns 11,645 shares of the company’s stock valued at $3,284,000 after purchasing an additional 1,760 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Duolingo in the third quarter valued at approximately $4,350,000. 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.