Duolingo (NASDAQ:DUOL) Announces Quarterly Earnings Results

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

Duolingo Stock Up 3.6 %

NASDAQ:DUOL traded up $11.23 during trading hours on Friday, reaching $327.05. The company’s stock had a trading volume of 100,872 shares, compared to its average volume of 699,627. Duolingo has a one year low of $145.05 and a one year high of $327.49. The business’s 50-day moving average is $268.56 and its 200-day moving average is $220.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.28 and a quick ratio of 3.28. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 225.59 and a beta of 0.79.

Insiders Place Their Bets

In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of the company’s stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were 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 in the company, valued at $18,417,183.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Stephen C. Chen sold 19,464 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $211.55, for a total value of $4,117,609.20. Following the completion of the transaction, the general counsel now directly owns 35,558 shares of the company’s stock, valued at approximately $7,522,294.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,374 shares of company stock valued at $15,802,382 over the last quarter. Insiders own 18.30% of the company’s stock.

Analysts Set New Price Targets

DUOL has been the topic of a number of analyst reports. DA Davidson increased their price objective on shares of Duolingo from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler boosted their price target on shares of Duolingo from $271.00 to $351.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group increased their price objective on Duolingo from $225.00 to $355.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays lifted their target price on shares of Duolingo from $183.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Bank of America raised their price objective on Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Five investment 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 stock. According to MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and an average 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.