Duolingo (NYSE:DUOL) Announces Earnings Results

Duolingo (NYSE:DUOLGet Rating) posted its quarterly earnings results on Thursday. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.26, MarketWatch Earnings reports. The company had revenue of $81.22 million during the quarter, compared to the consensus estimate of $77.56 million. Duolingo had a negative return on equity of 28.90% and a negative net margin of 23.98%. The firm’s quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.04) EPS. Duolingo updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Shares of NYSE DUOL opened at $89.77 on Friday. The stock has a market cap of $3.47 billion and a price-to-earnings ratio of -51.01. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.06. Duolingo has a 1-year low of $60.50 and a 1-year high of $204.99. The stock’s 50-day moving average is $87.27 and its 200 day moving average is $101.83.

In related news, major shareholder Durable Capital Partners Lp purchased 255,669 shares of Duolingo stock in a transaction that occurred on Tuesday, April 5th. The shares were acquired at an average cost of $100.47 per share, for a total transaction of $25,687,064.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ahn Luis Von sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $102.02, for a total value of $61,212.00. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 741,567 shares of company stock worth $65,732,619 and have sold 2,536 shares worth $253,384.

A number of institutional investors and hedge funds have recently bought and sold shares of DUOL. Royal Bank of Canada bought a new position in Duolingo during the 3rd quarter worth approximately $140,000. UBS Group AG bought a new position in Duolingo during the 3rd quarter worth approximately $627,000. Bank of New York Mellon Corp bought a new position in Duolingo during the 3rd quarter worth approximately $488,000. Charles Schwab Investment Management Inc. grew its position in Duolingo by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,916 shares of the company’s stock worth $2,963,000 after acquiring an additional 271 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Duolingo by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 58,293 shares of the company’s stock worth $6,185,000 after acquiring an additional 4,688 shares during the last quarter. Institutional investors and hedge funds own 40.17% of the company’s stock.

DUOL has been the subject of several research reports. Bank of America cut their price target on Duolingo from $165.00 to $135.00 in a research note on Friday. KeyCorp upgraded Duolingo from a “sector weight” rating to an “overweight” rating and set a $112.00 target price for the company in a research note on Monday, March 21st. Zacks Investment Research upgraded Duolingo from a “sell” rating to a “hold” rating in a research note on Thursday. Evercore ISI cut their target price on Duolingo from $195.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 4th. Finally, JMP Securities restated a “buy” rating and issued a $128.00 target price on shares of Duolingo in a research note on Tuesday, April 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $128.78.

Duolingo Company Profile (Get Rating)

Duolingo, Inc develops a language-learning website and mobile app in the United States and China. The company offers courses in 40 different languages, including Spanish, English, French, Japanese, German, Italian, Chinese, Portuguese, and others. It also provides a digital language proficiency assessment exam.

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