Duolingo (NASDAQ:DUOL) Issues Quarterly Earnings Results

Duolingo (NASDAQ:DUOL) announced its quarterly earnings results on Wednesday. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.13, Briefing.com reports. The company had revenue of $192.59 million for the quarter, compared to analysts’ expectations of $189.19 million. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. Duolingo’s revenue was up 39.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. Duolingo updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Duolingo Stock Down 0.4 %

DUOL stock traded down $1.30 on Thursday, hitting $317.55. 901,592 shares of the company’s stock were exchanged, compared to its average volume of 700,781. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. The stock has a market cap of $13.83 billion, a P/E ratio of 224.80 and a beta of 0.79. The firm has a 50 day moving average price of $266.39 and a two-hundred day moving average price of $220.10. Duolingo has a 12-month low of $145.05 and a 12-month high of $324.00.

Insider Activity at Duolingo

In related news, CFO Matthew Skaruppa sold 17,591 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the completion of the transaction, the chief financial officer now directly owns 88,856 shares in the company, valued at $18,417,183.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total value of $3,646,086.57. Following the sale, the chief financial officer now directly owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stephen C. Chen sold 19,464 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the transaction, the general counsel now owns 35,558 shares of the company’s stock, valued at $7,522,294.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,874 shares of company stock valued at $15,332,342 in the last three months. 18.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DUOL. The Goldman Sachs Group boosted their price objective on shares of Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday. DA Davidson lifted their price objective on Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC increased their price objective on shares of Duolingo from $310.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Duolingo from $303.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $325.44.

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.