Duolingo (NYSE:DUOL) Posts Earnings Results, Beats Estimates By $0.12 EPS

Duolingo (NYSE:DUOLGet Rating) announced its quarterly earnings results on Thursday. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.12, Briefing.com reports. The business had revenue of $88.39 million during the quarter, compared to the consensus estimate of $85.71 million. Duolingo had a negative net margin of 24.06% and a negative return on equity of 14.31%. The business’s revenue was up 50.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) EPS. Duolingo updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

Duolingo Stock Performance

Shares of DUOL traded up $4.39 during midday trading on Friday, hitting $103.07. 1,472,467 shares of the stock traded hands, compared to its average volume of 464,910. Duolingo has a 1-year low of $60.50 and a 1-year high of $204.99. The firm has a market capitalization of $4.04 billion and a PE ratio of -48.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.72 and a current ratio of 4.72. The business’s 50 day moving average price is $95.22 and its two-hundred day moving average price is $90.09.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DUOL shares. Raymond James upgraded shares of Duolingo from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a report on Friday, May 13th. Needham & Company LLC initiated coverage on shares of Duolingo in a report on Thursday, July 7th. They set a “buy” rating and a $115.00 target price for the company. Bank of America dropped their target price on shares of Duolingo from $165.00 to $135.00 in a report on Friday, May 13th. Piper Sandler raised their price target on shares of Duolingo from $95.00 to $119.00 and gave the stock an “overweight” rating in a research note on Friday, June 24th. Finally, The Goldman Sachs Group raised their price target on shares of Duolingo to $84.00 in a research note on Thursday, June 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $112.56.

Insider Activity

In other Duolingo news, major shareholder Durable Capital Partners Lp purchased 136,968 shares of the company’s stock in a transaction on Monday, May 9th. The shares were purchased at an average cost of $75.29 per share, for a total transaction of $10,312,320.72. Following the completion of the transaction, the insider now owns 3,361,913 shares in the company, valued at $253,118,429.77. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Durable Capital Partners Lp purchased 136,968 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average price of $75.29 per share, with a total value of $10,312,320.72. Following the purchase, the insider now owns 3,361,913 shares in the company, valued at approximately $253,118,429.77. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gillian Munson sold 786 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $89.95, for a total value of $70,700.70. Following the transaction, the director now owns 2,451 shares of the company’s stock, valued at $220,467.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,647 shares of company stock valued at $13,644,892. 22.12% of the stock is currently owned by company insiders.

Institutional Trading of Duolingo

Several large investors have recently made changes to their positions in DUOL. Durable Capital Partners LP boosted its holdings in Duolingo by 59.8% in the first quarter. Durable Capital Partners LP now owns 3,248,046 shares of the company’s stock valued at $308,922,000 after acquiring an additional 1,215,144 shares during the last quarter. BlackRock Inc. boosted its holdings in Duolingo by 95.6% in the first quarter. BlackRock Inc. now owns 822,978 shares of the company’s stock valued at $78,275,000 after acquiring an additional 402,222 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Duolingo by 63.6% in the first quarter. Vanguard Group Inc. now owns 691,476 shares of the company’s stock valued at $65,766,000 after acquiring an additional 268,908 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Duolingo by 7,186.0% in the first quarter. Goldman Sachs Group Inc. now owns 302,513 shares of the company’s stock valued at $28,772,000 after acquiring an additional 298,361 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Duolingo by 73.8% in the first quarter. Lord Abbett & CO. LLC now owns 216,817 shares of the company’s stock valued at $20,621,000 after acquiring an additional 92,031 shares during the last quarter. Institutional investors own 40.17% of the company’s stock.

Duolingo Company Profile

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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.

See Also

Earnings History for Duolingo (NYSE:DUOL)

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