Piper Sandler Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its price target lifted by Piper Sandler from $351.00 to $390.00 in a report released on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on DUOL. Needham & Company LLC lifted their target price on Duolingo from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Friday. Scotiabank assumed coverage on shares of Duolingo in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $425.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of Duolingo in a research note on Friday, February 14th. Jefferies Financial Group began coverage on shares of Duolingo in a research note on Friday, January 24th. They issued a “hold” rating and a $370.00 target price for the company. Finally, DA Davidson boosted their price target on shares of Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Duolingo has an average rating of “Moderate Buy” and a consensus target price of $369.09.

Duolingo Price Performance

Shares of DUOL opened at $312.07 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.09 and a current ratio of 3.09. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $441.77. The firm has a 50-day simple moving average of $359.71 and a 200-day simple moving average of $310.14. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of 170.53 and a beta of 0.89.

Insider Buying and Selling

In other news, insider Natalie Glance sold 2,667 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $435.28, for a total value of $1,160,891.76. Following the completion of the transaction, the insider now owns 129,572 shares in the company, valued at $56,400,100.16. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Severin Hacker sold 188,901 shares of Duolingo stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $339.54, for a total value of $64,139,445.54. Following the transaction, the insider now directly owns 72 shares of the company’s stock, valued at $24,446.88. This trade represents a 99.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 305,639 shares of company stock valued at $105,445,057. Corporate insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Several hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new stake in Duolingo during the third quarter worth approximately $26,000. First Horizon Advisors Inc. acquired a new position in Duolingo in the 3rd quarter valued at $29,000. Quarry LP lifted its stake in shares of Duolingo by 250.0% during the 4th quarter. Quarry LP now owns 91 shares of the company’s stock worth $30,000 after purchasing an additional 65 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Duolingo during the fourth quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd increased its stake in Duolingo by 5,050.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 103 shares of the company’s stock valued at $33,000 after purchasing an additional 101 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Duolingo Company Profile

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.