Duolingo (NYSE:DUOL) Trading Down 8.8% After Analyst Downgrade

Duolingo Inc (NYSE:DUOL)’s share price fell 8.8% during mid-day trading on Thursday after Piper Sandler lowered their price target on the stock from $182.00 to $137.00. Piper Sandler currently has an overweight rating on the stock. Duolingo traded as low as $94.00 and last traded at $94.00. 4,191 shares were traded during mid-day trading, a decline of 99% from the average session volume of 311,440 shares. The stock had previously closed at $103.02.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities upped their price target on shares of Duolingo from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 3rd. Zacks Investment Research cut shares of Duolingo from a “buy” rating to a “hold” rating in a research report on Monday, November 15th. Barclays upped their price target on shares of Duolingo from $125.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 11th. Finally, Evercore ISI raised shares of Duolingo from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $140.00 to $195.00 in a research report on Thursday, November 11th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $161.00.

In other Duolingo news, General Counsel Stephen C. Chen sold 17,840 shares of the company’s stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $143.28, for a total transaction of $2,556,115.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Natalie Glance sold 57,222 shares of the company’s stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $143.39, for a total transaction of $8,205,062.58. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 224,773 shares of company stock valued at $22,675,295 and have sold 165,758 shares valued at $23,353,635.

A number of institutional investors have recently modified their holdings of the business. Sycomore Asset Management acquired a new stake in shares of Duolingo in the fourth quarter worth $1,234,000. Bank of New York Mellon Corp acquired a new stake in shares of Duolingo in the third quarter worth $488,000. UBS Group AG acquired a new stake in shares of Duolingo in the third quarter worth $627,000. Wellington Management Group LLP acquired a new stake in shares of Duolingo in the third quarter worth $3,676,000. Finally, Man Group plc purchased a new stake in Duolingo during the third quarter worth $736,000. Institutional investors and hedge funds own 31.63% of the company’s stock.

The business has a fifty day simple moving average of $114.59. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.02.

Duolingo (NYSE:DUOL) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.92) by ($0.06). The company had revenue of $63.60 million for the quarter, compared to analysts’ expectations of $60.00 million. Duolingo had a negative net margin of 23.46% and a negative return on equity of 88.94%. As a group, analysts anticipate that Duolingo Inc will post -2.34 EPS for the current fiscal year.

Duolingo Company Profile (NYSE:DUOL)

Duolingo Inc provides mobile language learning platform. Duolingo Inc is based in PITTSBURGH.

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