DA Davidson Forecasts Strong Price Appreciation for Duolingo (NASDAQ:DUOL) Stock

Duolingo (NASDAQ:DUOL) had its price objective lifted by DA Davidson from $470.00 to $600.00 in a research note published on Friday morning,Benzinga reports. DA Davidson currently has a buy rating on the stock.

Several other brokerages also recently weighed in on DUOL. Piper Sandler set a $375.00 price target on Duolingo in a report on Friday, May 2nd. The Goldman Sachs Group raised their price target on Duolingo from $340.00 to $403.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Scotiabank raised their price target on Duolingo from $405.00 to $470.00 and gave the company a “sector outperform” rating in a report on Friday, May 2nd. Morgan Stanley raised their price target on Duolingo from $435.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Evercore ISI lifted their price objective on Duolingo from $400.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.57.

Duolingo Stock Performance

Shares of Duolingo stock opened at $517.91 on Friday. 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 firm has a market capitalization of $23.54 billion, a P/E ratio of 283.01 and a beta of 0.88. The business has a fifty day simple moving average of $411.34 and a two-hundred day simple moving average of $367.48. Duolingo has a 12 month low of $145.05 and a 12 month high of $544.93.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.52 by $0.20. The business had revenue of $230.74 million during the quarter, compared to analyst estimates of $223.15 million. Duolingo had a return on equity of 11.74% and a net margin of 12.59%. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. On average, equities analysts forecast that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Duolingo

In related news, insider Severin Hacker sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $298.25, for a total transaction of $2,982,500.00. Following the completion of the transaction, the insider now directly owns 72 shares in the company, valued at approximately $21,474. The trade was a 99.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert Meese sold 5,351 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $320.02, for a total value of $1,712,427.02. Following the transaction, the insider now owns 133,805 shares of the company’s stock, valued at approximately $42,820,276.10. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,853 shares of company stock worth $31,627,441 in the last three months. 15.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC grew its stake in shares of Duolingo by 43.6% during the 1st quarter. Rise Advisors LLC now owns 79 shares of the company’s stock valued at $25,000 after acquiring an additional 24 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Duolingo by 20.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 153 shares of the company’s stock valued at $48,000 after acquiring an additional 26 shares during the period. Kensington Investment Counsel LLC grew its stake in shares of Duolingo by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 5,633 shares of the company’s stock valued at $1,826,000 after acquiring an additional 30 shares during the period. Lido Advisors LLC grew its stake in shares of Duolingo by 0.3% during the 4th quarter. Lido Advisors LLC now owns 10,104 shares of the company’s stock valued at $3,276,000 after acquiring an additional 30 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its holdings in Duolingo by 1.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 2,942 shares of the company’s stock worth $914,000 after purchasing an additional 34 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

About Duolingo

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.