JPMorgan Chase & Co. Issues Pessimistic Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $410.00 to $360.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 17.64% from the stock’s previous close.

Several other analysts have also weighed in on the company. The Goldman Sachs Group upped their target price on Duolingo from $275.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Bank of America downgraded shares of Duolingo from a “buy” rating to a “neutral” rating and raised their target price for the company from $355.00 to $375.00 in a report on Wednesday, December 11th. Barclays upped their price target on shares of Duolingo from $295.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Jefferies Financial Group started coverage on shares of Duolingo in a research report on Friday, January 24th. They issued a “hold” rating and a $370.00 price target on the stock. Finally, Needham & Company LLC lifted their price objective on Duolingo from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Duolingo currently has a consensus rating of “Moderate Buy” and an average target price of $372.92.

Duolingo Price Performance

Shares of NASDAQ:DUOL traded up $9.52 on Tuesday, reaching $306.03. 530,327 shares of the company were exchanged, compared to its average volume of 732,386. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.07. Duolingo has a 1-year low of $145.05 and a 1-year high of $441.77. The company has a 50-day moving average of $345.00 and a 200-day moving average of $327.54. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 166.71 and a beta of 0.91.

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

Insider Activity at Duolingo

In related news, CEO Ahn Luis Von sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $293.80, for a total value of $2,350,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Natalie Glance sold 2,667 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $435.28, for a total transaction of $1,160,891.76. Following the completion of the sale, the insider now owns 129,572 shares of the company’s stock, valued at approximately $56,400,100.16. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,332 shares of company stock worth $30,517,807. 18.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Duolingo

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP raised its position in shares of Duolingo by 250.0% in the 4th quarter. Quarry LP now owns 91 shares of the company’s stock worth $30,000 after buying an additional 65 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Duolingo in the 4th quarter worth about $31,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Duolingo by 5,050.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock worth $33,000 after purchasing an additional 101 shares during the period. Versant Capital Management Inc grew its holdings in shares of Duolingo by 323.1% during the 1st quarter. Versant Capital Management Inc now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 84 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in shares of Duolingo by 1,255.6% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the company’s stock worth $40,000 after purchasing an additional 113 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.