Duolingo (NASDAQ:DUOL) Releases Earnings Results

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

Duolingo Trading Down 18.0 %

NASDAQ DUOL traded down $44.06 on Thursday, reaching $200.58. 3,521,063 shares of the company were exchanged, compared to its average volume of 758,954. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average price is $221.21 and its 200 day moving average price is $207.17. Duolingo has a fifty-two week low of $121.89 and a fifty-two week high of $251.30. The stock has a market capitalization of $8.60 billion, a P/E ratio of 587.02 and a beta of 0.82.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Bank of America upped their price objective on Duolingo from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Barclays cut their price objective on shares of Duolingo from $243.00 to $230.00 and set an “equal weight” rating for the company in a report on Thursday. Piper Sandler raised their target price on Duolingo from $217.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Needham & Company LLC upped their price objective on shares of Duolingo from $241.00 to $267.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Seaport Res Ptn reiterated a “buy” rating on shares of Duolingo in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $246.75.

Insider Buying and Selling at Duolingo

In other news, insider Natalie Glance sold 1,500 shares of Duolingo stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $247.82, for a total transaction of $371,730.00. Following the sale, the insider now owns 123,005 shares of the company’s stock, valued at approximately $30,483,099.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Ahn Luis Von sold 13,600 shares of Duolingo stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $208.34, for a total value of $2,833,424.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Natalie Glance sold 1,500 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $247.82, for a total value of $371,730.00. Following the transaction, the insider now owns 123,005 shares in the company, valued at $30,483,099.10. The disclosure for this sale can be found here. Insiders have sold 125,223 shares of company stock worth $27,273,230 in the last ninety days. 19.85% of the stock is owned by insiders.

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.