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

Duolingo (NASDAQ:DUOL) announced its quarterly earnings data on Wednesday. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.13, Briefing.com reports. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The firm had revenue of $192.59 million for the quarter, compared to analyst estimates of $189.19 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The business’s quarterly revenue 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 Down 1.0 %

DUOL stock traded down $3.03 during trading on Thursday, reaching $315.82. The stock had a trading volume of 1,225,844 shares, compared to its average volume of 702,397. Duolingo has a one year low of $145.05 and a one year 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 company’s 50 day moving average is $266.39 and its two-hundred day moving average is $220.10. The company has a market capitalization of $13.75 billion, a price-to-earnings ratio of 224.80 and a beta of 0.79.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of Duolingo from $183.00 to $295.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler boosted their target price 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 boosted their target price on shares of Duolingo from $225.00 to $355.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Duolingo from $303.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JMP Securities downgraded shares of Duolingo from an “outperform” rating to a “market perform” rating in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and a consensus target price of $325.44.

Insiders Place Their Bets

In other Duolingo news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the transaction, the insider now directly owns 139,760 shares in the company, valued at $29,001,597.60. 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 is available through the SEC website. In other Duolingo news, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.51, for a total value of $311,265.00. Following the transaction, the insider now directly owns 139,760 shares in the company, valued at $29,001,597.60. 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 is available through the SEC website. Also, insider Robert Meese sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $285.04, for a total transaction of $1,425,200.00. Following the completion of the transaction, the insider now owns 142,053 shares in the company, valued at approximately $40,490,787.12. The trade was a 0.00 % decrease in their ownership of the stock. 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. Corporate insiders own 18.30% of the company’s stock.

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.