Duolingo (NASDAQ:DUOL) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Duolingo (NASDAQ:DUOL) posted its quarterly earnings data on Wednesday. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $167.70 million during the quarter, compared to the consensus estimate of $165.60 million. During the same period in the prior year, the business posted ($0.06) earnings per share. Duolingo’s quarterly revenue was up 44.9% on a year-over-year basis. Duolingo updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Duolingo Stock Performance

Duolingo stock traded down $43.36 during trading on Thursday, hitting $201.28. The stock had a trading volume of 2,217,719 shares, compared to its average volume of 747,398. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $221.21 and its two-hundred day moving average is $207.17. Duolingo has a 1 year low of $121.89 and a 1 year high of $251.30. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 587.02 and a beta of 0.82.

Analyst Ratings Changes

DUOL has been the topic of a number of recent analyst reports. Seaport Res Ptn reaffirmed a “buy” rating on shares of Duolingo in a research note on Tuesday, February 27th. Needham & Company LLC boosted their price target on shares of Duolingo from $241.00 to $267.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group increased their price objective on shares of Duolingo from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. The Goldman Sachs Group boosted their target price on shares of Duolingo from $160.00 to $190.00 and gave the company a “sell” rating in a report on Thursday, February 29th. Finally, Bank of America increased their price target on Duolingo from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. One 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, the stock has a consensus rating of “Hold” and an average target price of $246.75.

Insider Buying and Selling at Duolingo

In other news, General Counsel Stephen C. Chen sold 2,000 shares of Duolingo 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 in the company, valued at $6,656,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ahn Luis Von sold 13,600 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stephen C. Chen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $190.00, for a total transaction of $380,000.00. Following the sale, the general counsel now directly owns 35,033 shares in the company, valued at approximately $6,656,270. The disclosure for this sale can be found here. Insiders have sold a total of 125,223 shares of company stock worth $27,273,230 over the last ninety days. 19.85% of the stock is currently owned by company insiders.

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.