Duolingo (NYSE:DUOL) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Duolingo (NYSE:DUOLGet Rating) announced its quarterly earnings data on Thursday. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.12, Briefing.com reports. Duolingo had a negative net margin of 21.26% and a negative return on equity of 16.22%. The company had revenue of $88.39 million during the quarter, compared to analysts’ expectations of $85.71 million. During the same period in the previous year, the company earned ($0.01) EPS. The business’s quarterly revenue was up 50.3% compared to the same quarter last year. Duolingo updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

Duolingo Stock Up 4.4 %

DUOL stock traded up $4.39 during trading on Friday, reaching $103.07. The stock had a trading volume of 1,466,685 shares, compared to its average volume of 542,975. Duolingo has a 1-year low of $60.50 and a 1-year high of $204.99. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.04 billion and a P/E ratio of -58.56. The firm has a fifty day moving average price of $94.83 and a 200 day moving average price of $89.98.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DUOL. Bank of America lowered their price objective on shares of Duolingo from $165.00 to $135.00 in a research note on Friday, May 13th. Raymond James raised shares of Duolingo from a “market perform” rating to an “outperform” rating and set a $98.00 price objective for the company in a research note on Friday, May 13th. Barclays lifted their target price on shares of Duolingo from $95.00 to $102.00 in a report on Friday. Needham & Company LLC initiated coverage on shares of Duolingo in a report on Thursday, July 7th. They set a “buy” rating and a $115.00 target price on the stock. Finally, The Goldman Sachs Group lifted their target price on shares of Duolingo to $84.00 in a report on Thursday, June 9th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.56.

Insiders Place Their Bets

In other news, CFO Matthew Skaruppa sold 432 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $90.97, for a total value of $39,299.04. Following the sale, the chief financial officer now owns 56,391 shares in the company, valued at approximately $5,129,889.27. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Matthew Skaruppa sold 432 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $90.97, for a total value of $39,299.04. Following the sale, the chief financial officer now owns 56,391 shares in the company, valued at approximately $5,129,889.27. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Stephen C. Chen sold 25,358 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $103.52, for a total transaction of $2,625,060.16. Following the sale, the general counsel now directly owns 28,384 shares of the company’s stock, valued at approximately $2,938,311.68. The disclosure for this sale can be found here. Insiders have sold 139,647 shares of company stock worth $13,644,892 in the last quarter. 22.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Duolingo

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors grew its position in Duolingo by 620.8% in the 1st quarter. Captrust Financial Advisors now owns 555 shares of the company’s stock worth $53,000 after purchasing an additional 478 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Duolingo in the 1st quarter worth about $342,000. California State Teachers Retirement System grew its position in Duolingo by 11.0% in the 1st quarter. California State Teachers Retirement System now owns 6,043 shares of the company’s stock worth $575,000 after purchasing an additional 599 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Duolingo in the 1st quarter worth about $620,000. Finally, Hsbc Holdings PLC bought a new position in Duolingo in the 1st quarter worth about $771,000. Institutional investors own 40.17% of the company’s stock.

About Duolingo

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Duolingo, Inc develops a language-learning website and mobile app in the United States and China. The company offers courses in 40 different languages, including Spanish, English, French, Japanese, German, Italian, Chinese, Portuguese, and others. It also provides a digital language proficiency assessment exam.

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Earnings History for Duolingo (NYSE:DUOL)

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