Duolingo (NASDAQ:DUOL) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Duolingo (NASDAQ:DUOL) released its quarterly earnings data on Wednesday. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.36 by $0.13, Briefing.com reports. The company had revenue of $192.59 million during the quarter, compared to the consensus estimate of $189.19 million. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. Duolingo’s revenue for the quarter was up 39.9% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. Duolingo updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Duolingo Price Performance

Shares of NASDAQ DUOL traded down $3.03 during mid-day trading on Thursday, reaching $315.82. 1,225,844 shares of the company were exchanged, compared to its average volume of 702,397. Duolingo has a 52 week low of $145.05 and a 52 week high of $324.00. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $13.75 billion, a PE ratio of 224.80 and a beta of 0.79. The company’s 50 day moving average price is $266.39 and its 200 day moving average price is $220.10.

Insider Transactions at Duolingo

In related news, General Counsel Stephen C. Chen sold 19,464 shares of Duolingo stock in a transaction 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 transaction, the general counsel now owns 35,558 shares in the company, valued at $7,522,294.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Duolingo news, insider Robert Meese sold 4,819 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $240.02, for a total value of $1,156,656.38. Following the transaction, the insider now owns 157,053 shares in the company, valued at approximately $37,695,861.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stephen C. Chen sold 19,464 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $211.55, for a total transaction of $4,117,609.20. Following the completion of the transaction, the general counsel now owns 35,558 shares in the company, valued at $7,522,294.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,874 shares of company stock valued at $15,332,342. Insiders own 18.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on DUOL shares. Evercore ISI raised shares of Duolingo to a “strong-buy” rating in a report on Monday, August 5th. UBS Group raised their price target on shares of Duolingo from $225.00 to $355.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Needham & Company LLC raised their price target on shares of Duolingo from $310.00 to $370.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group raised their price target on shares of Duolingo from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Piper Sandler raised their price target on shares of Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.