Duolingo (NASDAQ:DUOL) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Duolingo (NASDAQ:DUOL) in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm issued an underweight rating and a $239.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. Baird R W raised Duolingo to a “hold” rating in a report on Friday, September 5th. Citizens Jmp dropped their target price on Duolingo from $475.00 to $450.00 and set a “mkt outperform” rating for the company in a report on Monday, July 28th. Barclays increased their target price on Duolingo from $375.00 to $390.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Robert W. Baird assumed coverage on Duolingo in a report on Friday, September 5th. They issued a “neutral” rating and a $280.00 target price for the company. Finally, Argus assumed coverage on Duolingo in a report on Wednesday, June 25th. They issued a “buy” rating and a $575.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $420.63.

Duolingo Stock Up 4.5%

NASDAQ DUOL opened at $285.91 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.81 and a current ratio of 2.81. The firm has a 50-day simple moving average of $341.16 and a 200 day simple moving average of $380.53. Duolingo has a twelve month low of $212.85 and a twelve month high of $544.93. The stock has a market cap of $13.10 billion, a PE ratio of 117.66, a PEG ratio of 1.82 and a beta of 0.85.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.36. Duolingo had a net margin of 13.24% and a return on equity of 13.32%. The firm had revenue of $252.27 million during the quarter, compared to analysts’ expectations of $240.84 million. During the same quarter last year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, research analysts forecast that Duolingo will post 2.03 EPS for the current year.

Insider Activity

In other Duolingo news, insider Natalie Glance sold 2,533 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $329.03, for a total transaction of $833,432.99. Following the sale, the insider owned 122,112 shares of the company’s stock, valued at $40,178,511.36. This represents a 2.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Skaruppa sold 10,937 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $317.39, for a total transaction of $3,471,294.43. Following the sale, the chief financial officer directly owned 43,345 shares in the company, valued at approximately $13,757,269.55. This represents a 20.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,508 shares of company stock worth $28,428,221. 15.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Duolingo

Hedge funds have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. bought a new position in Duolingo in the 1st quarter worth approximately $25,000. Rise Advisors LLC raised its position in Duolingo by 43.6% in the 1st quarter. Rise Advisors LLC now owns 79 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares during the last quarter. Summit Securities Group LLC bought a new position in Duolingo in the 1st quarter worth approximately $28,000. Brooklyn Investment Group raised its position in Duolingo by 4,750.0% in the 1st quarter. Brooklyn Investment Group now owns 97 shares of the company’s stock worth $30,000 after purchasing an additional 95 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in Duolingo in the 1st quarter worth approximately $31,000. Institutional investors own 91.59% of the company’s stock.

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.