JPMorgan Chase & Co. Cuts Duolingo (NASDAQ:DUOL) Price Target to $92.00

Duolingo (NASDAQ:DUOL) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $95.00 to $92.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 11.14% from the company’s previous close.

Other equities analysts have also issued reports about the stock. BMO Capital Markets upgraded shares of Duolingo to a “buy” rating in a research report on Monday, January 12th. Zacks Research downgraded shares of Duolingo from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. DA Davidson set a $85.00 price objective on shares of Duolingo in a research report on Thursday, April 9th. Citigroup reissued a “neutral” rating and set a $101.00 price objective (down from $270.00) on shares of Duolingo in a research note on Friday, February 27th. Finally, Wells Fargo & Company decreased their target price on shares of Duolingo from $185.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, January 8th. Four analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Duolingo presently has a consensus rating of “Hold” and an average price target of $206.16.

Duolingo Trading Up 3.0%

DUOL traded up $3.02 during mid-day trading on Monday, hitting $103.53. 1,105,892 shares of the stock were exchanged, compared to its average volume of 2,558,122. The company has a market cap of $4.79 billion, a PE ratio of 12.18, a PEG ratio of 0.70 and a beta of 0.89. Duolingo has a 1-year low of $87.89 and a 1-year high of $544.93. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average is $102.02 and its two-hundred day moving average is $171.48.

Duolingo (NASDAQ:DUOL) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.79 by $0.12. The business had revenue of $282.87 million during the quarter, compared to the consensus estimate of $275.95 million. Duolingo had a net margin of 39.91% and a return on equity of 14.88%. The business’s revenue for the quarter was up 35.0% on a year-over-year basis. Equities analysts forecast that Duolingo will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Natalie Glance sold 3,545 shares of Duolingo stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $113.51, for a total value of $402,392.95. Following the completion of the sale, the insider owned 115,380 shares of the company’s stock, valued at approximately $13,096,783.80. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James H. Shelton acquired 5,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were acquired at an average price of $99.76 per share, for a total transaction of $498,800.00. Following the acquisition, the director owned 9,632 shares of the company’s stock, valued at approximately $960,888.32. The trade was a 107.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 14,939 shares of company stock worth $1,676,291 over the last three months. Insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Duolingo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. raised its stake in shares of Duolingo by 71.9% in the fourth quarter. Baillie Gifford & Co. now owns 4,861,445 shares of the company’s stock worth $853,184,000 after purchasing an additional 2,033,611 shares during the last quarter. Capital World Investors grew its holdings in Duolingo by 0.5% during the fourth quarter. Capital World Investors now owns 2,241,378 shares of the company’s stock worth $393,362,000 after buying an additional 11,140 shares in the last quarter. Dragoneer Investment Group LLC raised its position in Duolingo by 324.4% in the 3rd quarter. Dragoneer Investment Group LLC now owns 1,580,787 shares of the company’s stock valued at $508,760,000 after buying an additional 1,208,346 shares during the last quarter. State Street Corp raised its position in Duolingo by 0.5% in the 2nd quarter. State Street Corp now owns 1,164,387 shares of the company’s stock valued at $477,422,000 after buying an additional 6,109 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its stake in Duolingo by 1.0% during the 4th quarter. Whale Rock Capital Management LLC now owns 876,646 shares of the company’s stock valued at $153,851,000 after acquiring an additional 8,477 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

About Duolingo

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.