Tue, April 16, 2024

Duolingo Surges: EPS Up $0.05, Revenue at $150.99M

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Quick Look

  • Duolingo’s EPS of $0.26 beats estimates by $0.05.
  • Quarterly revenue hits $150.99 million, outpacing forecasts.
  • The stock price jumps to $230.85 from the previous close of $195.51.
  • Analysts adjust price targets, with a consensus of $218.11.
  • Insider sales reach 136,000 shares over the last 90 days.
  • Institutional ownership stands at 76.93%, with significant stake increases.

Duolingo has issued a financial report that not only surpassed analyst expectations but also displayed a strong growth trajectory. The company reported a quarterly earnings per share (EPS) of $0.26, significantly outperforming the consensus forecasts of $0.21. This outcome signals robust operational efficiency and market acceptance of its language learning platforms. Despite a negative net margin of 2.06% and a negative return on equity of 1.72%, Duolingo’s revenue soared to $150.99 million during the quarter, exceeding analyst predictions of $146.98 million.

Stock Up $35.34 Post-Earnings, Hits $230.85

Following the earnings release, Duolingo’s stock saw a notable increase. The stock opened post-earnings at an impressive $240.61, with the last traded price reaching $230.85. This surge from the previous close of $195.51 reflects investor confidence in the company’s future prospects. Trading volume spiked to 1,131,096 shares, underlining the market’s active engagement with the earnings report.

Analysts Raise Targets, Insider Sales at 136K

In response to Duolingo’s strong performance, several analysts have updated their ratings and price targets. Barclays, for instance, lifted its price target to $243.00, while The Goldman Sachs Group adjusted their target to $190.00. Insider transactions have been noteworthy as well, with General Counsel Stephen C. Chen and insider Robert Meese selling shares, suggesting a strategy of capitalizing on the company’s growth while retaining a substantial interest.

76.93% Stock Held by Institutions, Stakes Rise

Institutional investment in Duolingo has shown a positive trend, with prominent firms like Baillie Gifford & Co., Durable Capital Partners LP, and BlackRock Inc. bolstering their stakes. This reflects strong institutional confidence in Duolingo’s market standing and future growth potential. With 76.93% of Duolingo’s stock owned by institutions, the company enjoys robust support from the investment community.

Q4 Revenue Jumps 45.4%, Bright FY2024 Outlook

Duolingo’s outlook for the future is promising, with Q4 revenue marking a 45.4% year-on-year increase and a significant improvement in EPS from the previous year. The company has set ambitious revenue targets for the next quarter and FY2024, forecasting considerable growth. Positioned for continued success in the competitive online education market, Duolingo boasts a growing base of paid subscribers and a significant uptick in user engagement.

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