Duolingo (NASDAQ:DUOL) Issues Quarterly Earnings Results

Duolingo (NASDAQ:DUOL) posted its quarterly earnings results on Wednesday. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.27, Briefing.com reports. Duolingo had a net margin of 3.03% and a return on equity of 2.64%. The company had revenue of $167.70 million for the quarter, compared to analyst estimates of $165.60 million. During the same period last year, the business posted ($0.06) EPS. The business’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 Trading Down 18.0 %

NASDAQ DUOL traded down $44.06 on Thursday, reaching $200.58. The company had a trading volume of 3,521,063 shares, compared to its average volume of 758,954. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 587.02 and a beta of 0.82. The stock’s 50 day moving average is $221.21 and its 200-day moving average is $207.17. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.03. Duolingo has a 52 week low of $121.89 and a 52 week high of $251.30.

Analyst Ratings Changes

Several brokerages recently commented on DUOL. Piper Sandler raised their target price on Duolingo from $217.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Bank of America increased their price objective on Duolingo from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Needham & Company LLC increased their target price on shares of Duolingo from $241.00 to $267.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group upped their price objective on shares of Duolingo from $160.00 to $190.00 and gave the stock a “sell” rating in a research note on Thursday, February 29th. Finally, Barclays decreased their price target on Duolingo from $243.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Thursday. One research 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, Duolingo has a consensus rating of “Hold” and a consensus target price of $246.75.

Insider Transactions at Duolingo

In other Duolingo news, General Counsel Stephen C. Chen sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Duolingo news, CEO Ahn Luis Von sold 22,023 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $220.26, for a total transaction of $4,850,785.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Stephen C. Chen sold 2,000 shares of the firm’s 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 of the company’s stock, 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 valued at $27,273,230 over the last three months. 19.85% of the stock is currently owned by corporate 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.