Duolingo (NASDAQ:DUOL) Research Coverage Started at Truist Financial

Truist Financial began coverage on shares of Duolingo (NASDAQ:DUOL) in a research note released on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $245.00 target price on the stock.

Other analysts have also issued reports about the company. Citigroup lowered Duolingo from a “buy” rating to a “market perform” rating in a research report on Thursday, November 6th. Barclays lowered their price objective on Duolingo from $390.00 to $230.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Bank of America upgraded Duolingo from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $301.00 to $250.00 in a report on Monday. Zacks Research lowered Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Needham & Company LLC reduced their target price on Duolingo from $460.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Twelve equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $309.75.

Duolingo Trading Down 1.4%

DUOL opened at $173.87 on Tuesday. The firm has a market capitalization of $8.04 billion, a P/E ratio of 22.04, a P/E/G ratio of 0.93 and a beta of 0.87. The firm’s 50 day moving average is $191.38 and its 200-day moving average is $285.46. Duolingo has a 52-week low of $166.27 and a 52-week high of $544.93. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.07.

Duolingo (NASDAQ:DUOL) last announced its earnings results on Wednesday, November 5th. The company reported $5.95 earnings per share for the quarter, beating the consensus estimate of $0.72 by $5.23. The business had revenue of $271.71 million during the quarter, compared to the consensus estimate of $260.14 million. Duolingo had a net margin of 40.03% and a return on equity of 14.02%. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Analysts expect that Duolingo will post 2.03 EPS for the current fiscal year.

Insider Transactions at Duolingo

In related news, insider Natalie Glance sold 2,534 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $177.95, for a total transaction of $450,925.30. Following the transaction, the insider directly owned 113,637 shares in the company, valued at $20,221,704.15. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Stephen C. Chen sold 1,514 shares of Duolingo stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $175.87, for a total transaction of $266,267.18. Following the completion of the transaction, the general counsel directly owned 31,542 shares of the company’s stock, valued at approximately $5,547,291.54. This represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,169 shares of company stock worth $11,605,151 in the last quarter. Insiders own 15.67% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Dragoneer Investment Group LLC grew its position in shares of Duolingo by 324.4% during 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. Baillie Gifford & Co. grew its holdings in shares of Duolingo by 28.6% during the third quarter. Baillie Gifford & Co. now owns 2,827,834 shares of the company’s stock valued at $910,110,000 after purchasing an additional 628,943 shares during the last quarter. Norges Bank acquired a new stake in shares of Duolingo during the 2nd quarter worth approximately $192,965,000. Balyasny Asset Management L.P. lifted its holdings in shares of Duolingo by 22,970.4% in the 3rd quarter. Balyasny Asset Management L.P. now owns 415,268 shares of the company’s stock worth $133,650,000 after purchasing an additional 413,468 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Duolingo by 78.4% in the 3rd quarter. AQR Capital Management LLC now owns 740,869 shares of the company’s stock worth $238,441,000 after purchasing an additional 325,648 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

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.