Duolingo (NYSE:DUOL – Get Rating) issued its earnings results on Thursday. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.12, Briefing.com reports. Duolingo had a negative return on equity of 16.22% and a negative net margin of 21.26%. The company had revenue of $88.39 million during the quarter, compared to analyst estimates of $85.71 million. During the same quarter last year, the firm earned ($0.01) EPS. The business’s revenue was up 50.3% on a year-over-year basis. Duolingo updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.
Duolingo Price Performance
Shares of NYSE DUOL traded up $4.39 during mid-day trading on Friday, reaching $103.07. The company had a trading volume of 1,466,685 shares, compared to its average volume of 542,975. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.05. The stock has a market cap of $4.04 billion and a PE ratio of -58.56. The company has a 50-day moving average price of $94.83 and a two-hundred day moving average price of $89.98. Duolingo has a 1-year low of $60.50 and a 1-year high of $204.99.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Needham & Company LLC assumed coverage on Duolingo in a research note on Thursday, July 7th. They set a “buy” rating and a $115.00 target price on the stock. Piper Sandler lifted their target price on Duolingo from $95.00 to $119.00 and gave the company an “overweight” rating in a research note on Friday, June 24th. Raymond James raised Duolingo from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a research note on Friday, May 13th. The Goldman Sachs Group boosted their price objective on Duolingo to $84.00 in a research note on Thursday, June 9th. Finally, Barclays boosted their price objective on Duolingo from $95.00 to $102.00 in a research note on Friday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.56.
Insider Buying and Selling
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of DUOL. Captrust Financial Advisors grew its stake in Duolingo by 620.8% in the first quarter. Captrust Financial Advisors now owns 555 shares of the company’s stock valued at $53,000 after purchasing an additional 478 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Duolingo in the first quarter valued at about $342,000. California State Teachers Retirement System grew its stake in Duolingo by 11.0% in the first quarter. California State Teachers Retirement System now owns 6,043 shares of the company’s stock valued at $575,000 after purchasing an additional 599 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Duolingo in the first quarter valued at about $620,000. Finally, Hsbc Holdings PLC purchased a new position in Duolingo in the first quarter valued at about $771,000. Hedge funds and other institutional investors own 40.17% of the company’s stock.
Duolingo Company Profile
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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