Duolingo (NASDAQ:DUOL) Price Target Raised to $470.00 at Scotiabank

Duolingo (NASDAQ:DUOL) had its target price upped by Scotiabank from $405.00 to $470.00 in a report issued on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other brokerages also recently issued reports on DUOL. Evercore ISI boosted their price objective on shares of Duolingo from $400.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday. Citizens Jmp raised Duolingo from a “market perform” rating to an “outperform” rating and set a $400.00 price target for the company in a report on Tuesday, March 18th. Morgan Stanley started coverage on Duolingo in a research note on Wednesday, April 23rd. They issued an “overweight” rating and a $435.00 price objective on the stock. DA Davidson boosted their price objective on Duolingo from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Duolingo from $410.00 to $360.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $422.50.

Duolingo Stock Up 21.6 %

DUOL stock opened at $486.42 on Friday. The company has a market cap of $22.01 billion, a price-to-earnings ratio of 265.80 and a beta of 0.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. The business’s 50-day moving average is $326.31 and its two-hundred day moving average is $336.50. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $487.00.

Duolingo (NASDAQ:DUOL) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.20. The firm had revenue of $230.74 million for the quarter, compared to analysts’ expectations of $223.15 million. Duolingo had a net margin of 12.59% and a return on equity of 11.74%. The company’s revenue for the quarter was up 37.6% compared to the same quarter last year. As a group, analysts forecast that Duolingo will post 2.03 earnings per share for the current year.

Insider Activity at Duolingo

In related news, CEO Ahn Luis Von sold 8,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $434.79, for a total transaction of $3,478,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Natalie Glance sold 2,667 shares of Duolingo stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $435.28, for a total value of $1,160,891.76. Following the completion of the sale, the insider now directly owns 129,572 shares in the company, valued at approximately $56,400,100.16. The trade was a 2.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,868 shares of company stock valued at $37,549,300. Corporate insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DUOL. Contravisory Investment Management Inc. purchased a new stake in Duolingo during the first quarter valued at $25,000. Quarry LP increased its holdings 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 last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Duolingo during the 4th quarter valued at about $31,000. Garde Capital Inc. bought a new position in shares of Duolingo in the 1st quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd lifted 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 valued at $33,000 after acquiring an additional 101 shares during the last quarter. 91.59% of the stock is 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.