Duolingo (NASDAQ:DUOL) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Duolingo (NASDAQ:DUOL) released its earnings results on Wednesday. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14, Briefing.com reports. Duolingo had a net margin of 12.59% and a return on equity of 12.20%. The business had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $189.19 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 39.9% on a year-over-year basis. Duolingo updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Duolingo Trading Up 3.5 %

Shares of DUOL opened at $326.89 on Friday. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $270.84 and a 200 day moving average price of $221.61. Duolingo has a 12-month low of $145.05 and a 12-month high of $330.61. The firm has a market capitalization of $14.23 billion, a P/E ratio of 178.63 and a beta of 0.79.

Insiders Place Their Bets

In other news, CFO Matthew Skaruppa sold 17,591 shares of Duolingo stock in a transaction that occurred 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 sale, the chief financial officer now owns 88,856 shares of the company’s stock, valued at approximately $18,417,183.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Duolingo news, insider Natalie Glance sold 1,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $313.36, for a total transaction of $470,040.00. Following the completion of the transaction, the insider now owns 136,760 shares of the company’s stock, valued at $42,855,113.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew Skaruppa sold 17,591 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 88,856 shares in the company, valued at $18,417,183.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,374 shares of company stock valued at $15,802,382 over the last ninety days. Company insiders own 18.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DUOL shares. Bank of America lifted their price objective on Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group lifted their price target on Duolingo from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday. JMP Securities downgraded Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Wolfe Research began coverage on shares of Duolingo in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Needham & Company LLC increased their target price on shares of Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Duolingo presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.44.

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.