Duolingo (NASDAQ:DUOL) Posts Earnings Results

Duolingo (NASDAQ:DUOL) released its earnings results on Wednesday. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.27, Briefing.com reports. Duolingo had a net margin of 3.03% and a return on equity of 2.64%. The company had revenue of $167.70 million for the quarter, compared to the consensus estimate of $165.60 million. During the same period in the prior year, the company posted ($0.06) EPS. The company’s 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 Price Performance

DUOL traded down $43.83 on Thursday, hitting $200.81. 3,164,079 shares of the stock were exchanged, compared to its average volume of 758,019. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 587.02 and a beta of 0.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 3.24. Duolingo has a 12 month low of $121.89 and a 12 month high of $251.30. The business has a 50-day moving average of $221.21 and a two-hundred day moving average of $207.17.

Insider Buying and Selling

In other news, General Counsel Stephen C. Chen sold 2,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $190.00, for a total value of $380,000.00. Following the completion of the transaction, the general counsel now owns 35,033 shares of the company’s stock, valued at $6,656,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Duolingo news, General Counsel Stephen C. Chen sold 2,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $190.00, for a total value of $380,000.00. Following the sale, the general counsel now owns 35,033 shares in the company, valued at approximately $6,656,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ahn Luis Von sold 13,600 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $208.34, for a total transaction of $2,833,424.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,223 shares of company stock worth $27,273,230. Corporate insiders own 19.85% of the company’s stock.

Wall Street Analyst Weigh In

DUOL has been the subject of a number of research analyst reports. Bank of America boosted their target price on Duolingo from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Needham & Company LLC increased their price target on shares of Duolingo from $241.00 to $267.00 and gave the company a “buy” rating in a research note on Thursday. Barclays cut their price objective on Duolingo from $243.00 to $230.00 and set an “equal weight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. initiated coverage on Duolingo in a report on Monday, March 11th. They set an “overweight” rating and a $270.00 price target for the company. Finally, UBS Group upped their price objective on shares of Duolingo from $230.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $246.75.

About Duolingo

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.