Duolingo (DUOL) Set to Announce Quarterly Earnings on Wednesday

Duolingo (NASDAQ:DUOL) will issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.36 per share for the quarter. Duolingo has set its Q3 2024 guidance at EPS and its FY 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Duolingo (NASDAQ:DUOL) last released its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a net margin of 10.44% and a return on equity of 9.64%. The company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $177.13 million. During the same quarter in the previous year, the company earned $0.08 EPS. Duolingo’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, analysts expect Duolingo to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Duolingo Stock Down 1.0 %

Duolingo stock opened at $290.65 on Tuesday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.07. Duolingo has a 12-month low of $145.05 and a 12-month high of $311.91. The firm’s fifty day moving average is $262.16 and its 200 day moving average is $218.68. The company has a market capitalization of $12.65 billion, a PE ratio of 207.61 and a beta of 0.79.

Analyst Ratings Changes

Several research firms have weighed in on DUOL. Bank of America upped their price objective on shares of Duolingo from $292.00 to $298.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group upped their price objective on shares of Duolingo from $198.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on shares of Duolingo from $255.00 to $303.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Barclays reduced their target price on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, JMP Securities lowered shares of Duolingo from an “outperform” rating to a “market perform” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $277.22.

Insider Activity at Duolingo

In other Duolingo news, CFO Matthew Skaruppa sold 17,591 shares of the stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Natalie Glance sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 owns 139,760 shares in the company, valued at approximately $29,001,597.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Skaruppa sold 17,591 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 88,856 shares in the company, valued at $18,417,183.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,874 shares of company stock valued at $15,332,342 over the last three months. 18.30% of the stock is 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.