Duolingo (NASDAQ:DUOL) Issues Earnings Results

Duolingo (NASDAQ:DUOL) posted its quarterly earnings data on Wednesday. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.27, Briefing.com reports. Duolingo had a return on equity of 2.64% and a net margin of 3.03%. The firm had revenue of $167.70 million for the quarter, compared to analysts’ expectations of $165.60 million. During the same quarter last year, the business earned ($0.06) EPS. The company’s quarterly revenue was up 44.9% compared to the same quarter last year. Duolingo updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Duolingo Trading Down 18.0 %

DUOL opened at $200.58 on Friday. The company’s 50 day moving average price is $221.21 and its two-hundred day moving average price is $207.17. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 589.96 and a beta of 0.82. Duolingo has a fifty-two week low of $121.89 and a fifty-two week high of $251.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 3.24.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DUOL. The Goldman Sachs Group increased their target price on shares of Duolingo from $160.00 to $190.00 and gave the stock a “sell” rating in a research report on Thursday, February 29th. Barclays cut their target price on Duolingo from $243.00 to $230.00 and set an “equal weight” rating for the company in a research report on Thursday. Needham & Company LLC boosted their price target on Duolingo from $241.00 to $267.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. assumed coverage on shares of Duolingo in a research note on Monday, March 11th. They set an “overweight” rating and a $270.00 price objective on the stock. Finally, Bank of America boosted their target price on shares of Duolingo from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Duolingo currently has an average rating of “Hold” and an average target price of $246.75.

Insider Transactions at Duolingo

In other news, CFO Matthew Skaruppa sold 8,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $235.18, for a total value of $1,881,440.00. Following the completion of the sale, the chief financial officer now owns 64,523 shares of the company’s stock, valued at $15,174,519.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Matthew Skaruppa sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $235.18, for a total value of $1,881,440.00. Following the sale, the chief financial officer now directly owns 64,523 shares of the company’s stock, valued at approximately $15,174,519.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction on Monday, May 6th. The stock was sold at an average price of $247.82, for a total transaction of $371,730.00. Following the transaction, the insider now directly owns 123,005 shares of the company’s stock, valued at approximately $30,483,099.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,223 shares of company stock worth $26,893,230. Company insiders own 19.85% of the company’s stock.

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.