Wolfe Research Initiates Coverage of Duolingo With Peer Perform Recommendation

Fintel reports that on June 21, 2023, Wolfe Research initiated coverage of Duolingo Inc – (NASDAQ:DUOL) with a Peer Perform recommendation.

Analyst Price Forecast Suggests 3.65% Upside

As of June 2, 2023, the average one-year price target for Duolingo Inc – is 155.68. The forecasts range from a low of 133.32 to a high of $175.35. The average price target represents an increase of 3.65% from its latest reported closing price of 150.20.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Duolingo Inc – is 473MM, an increase of 17.13%. The projected annual non-GAAP EPS is -1.53.

What is the Fund Sentiment?

There are 393 funds or institutions reporting positions in Duolingo Inc -. This is an increase of 52 owner(s) or 15.25% in the last quarter. Average portfolio weight of all funds dedicated to DUOL is 0.38%, a decrease of 1.22%. Total shares owned by institutions increased in the last three months by 8.62% to 30,469K shares. The put/call ratio of DUOL is 1.34, indicating a bearish outlook.

What are Other Shareholders Doing?

Baillie Gifford holds 4,468K shares representing 10.88% ownership of the company. In it’s prior filing, the firm reported owning 3,253K shares, representing an increase of 27.19%. The firm increased its portfolio allocation in DUOL by 138.39% over the last quarter.

Durable Capital Partners holds 4,157K shares representing 10.13% ownership of the company. No change in the last quarter.

VWUSX – Vanguard U.S. Growth Fund Investor Shares holds 1,448K shares representing 3.53% ownership of the company. In it’s prior filing, the firm reported owning 790K shares, representing an increase of 45.43%. The firm increased its portfolio allocation in DUOL by 142.90% over the last quarter.

Whale Rock Capital Management holds 1,320K shares representing 3.22% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

General Atlantic holds 1,164K shares representing 2.84% ownership of the company. In it’s prior filing, the firm reported owning 1,479K shares, representing a decrease of 27.06%. The firm increased its portfolio allocation in DUOL by 38.51% over the last quarter.

Duolingo Background Information
(This description is provided by the company.)

Duolingo is an American educational technology company which produces apps for language-learning and provides language certification. On its main app, users can practice vocabulary, grammar, pronunciation and listening skills using spaced repetition.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel