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Citigroup assumed coverage on shares of Duolingo (NASDAQ:DUOL – Free Report) in a report released on Monday morning, MarketBeat reports. The firm issued a buy rating and a $400.00 target price on the stock.
Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group boosted their target price on Duolingo from $340.00 to $403.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Evercore ISI boosted their target price on Duolingo from $400.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Scotiabank boosted their target price on Duolingo from $405.00 to $470.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 2nd. DA Davidson dropped their target price on Duolingo from $600.00 to $500.00 and set a “buy” rating for the company in a research report on Wednesday, June 25th. Finally, Argus initiated coverage on Duolingo in a research report on Wednesday, June 25th. They set a “buy” rating and a $575.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $451.35.
Duolingo Trading Down 0.5%
Shares of DUOL opened at $338.88 on Monday. The company has a market cap of $15.53 billion, a price-to-earnings ratio of 139.46, a PEG ratio of 2.27 and a beta of 0.87. Duolingo has a 52-week low of $202.38 and a 52-week high of $544.93. 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 stock has a fifty day moving average price of $383.78 and a two-hundred day moving average price of $391.48.
Duolingo (NASDAQ:DUOL – Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.36. The company had revenue of $252.27 million during the quarter, compared to the consensus estimate of $240.84 million. Duolingo had a return on equity of 13.32% and a net margin of 13.24%.The firm’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 earnings per share. Analysts predict that Duolingo will post 2.03 EPS for the current fiscal year.
Insider Activity at Duolingo
In other news, General Counsel Stephen C. Chen sold 1,282 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $329.03, for a total transaction of $421,816.46. Following the completion of the transaction, the general counsel directly owned 34,153 shares of the company’s stock, valued at $11,237,361.59. This represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Skaruppa sold 2,797 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $329.03, for a total value of $920,296.91. Following the transaction, the chief financial officer directly owned 52,904 shares of the company’s stock, valued at $17,407,003.12. This represents a 5.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,056 shares of company stock valued at $23,589,966 over the last ninety days. Company insiders own 15.67% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. acquired a new position in shares of Duolingo during the first quarter worth about $3,772,000. Encompass More Asset Management bought a new stake in Duolingo during the first quarter worth about $762,000. TD Asset Management Inc raised its holdings in Duolingo by 12.7% during the first quarter. TD Asset Management Inc now owns 107,520 shares of the company’s stock worth $33,389,000 after acquiring an additional 12,138 shares in the last quarter. Congress Asset Management Co. bought a new stake in Duolingo during the first quarter worth about $15,430,000. Finally, Ontario Teachers Pension Plan Board raised its holdings in Duolingo by 55.2% during the first quarter. Ontario Teachers Pension Plan Board now owns 4,221 shares of the company’s stock worth $1,311,000 after acquiring an additional 1,501 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.
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.
See Also
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