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

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

Duolingo Stock Up 3.6 %

DUOL stock traded up $11.23 during mid-day trading on Friday, reaching $327.05. The company had a trading volume of 100,872 shares, compared to its average volume of 699,627. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.28 and a current ratio of 3.28. Duolingo has a fifty-two week low of $145.05 and a fifty-two week high of $327.49. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 225.59 and a beta of 0.79. The firm has a fifty day simple moving average of $268.56 and a 200 day simple moving average of $220.76.

Analyst Ratings Changes

A number of brokerages have issued reports on DUOL. DA Davidson increased their price objective on shares of Duolingo from $250.00 to $350.00 and gave the company a “buy” rating in a report on Thursday. Seaport Res Ptn downgraded Duolingo from a “strong-buy” rating to a “hold” rating in a research report on Thursday. JMP Securities lowered Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Barclays raised their price target on Duolingo from $183.00 to $295.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Piper Sandler raised their price target on Duolingo from $271.00 to $351.00 and gave the company an “overweight” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Duolingo has an average rating of “Moderate Buy” and an average price target of $325.44.

Insider Transactions at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of Duolingo stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $207.27, for a total transaction of $3,646,086.57. Following the transaction, the chief financial officer now owns 88,856 shares of the company’s stock, valued at $18,417,183.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Matthew Skaruppa sold 17,591 shares of Duolingo stock in a transaction that occurred on Wednesday, August 21st. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Natalie Glance sold 1,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.51, for a total value of $311,265.00. Following the sale, the insider now owns 139,760 shares in the company, valued at approximately $29,001,597.60. 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 90 days, insiders have sold 70,374 shares of company stock valued at $15,802,382. 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.