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Brokers Issue Forecasts for Duolingo, Inc.’s FY2023 Earnings (NASDAQ:DUOL)

Duolingo, Inc. (NASDAQ:DUOLFree Report) – Research analysts at Seaport Res Ptn issued their FY2023 earnings per share estimates for shares of Duolingo in a report issued on Tuesday, February 27th. Seaport Res Ptn analyst A. Kessler forecasts that the company will earn $0.30 per share for the year. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Duolingo’s current full-year earnings is $0.26 per share. Seaport Res Ptn also issued estimates for Duolingo’s Q4 2023 earnings at $0.22 EPS, Q1 2024 earnings at $0.24 EPS, Q2 2024 earnings at $0.38 EPS, Q3 2024 earnings at $0.36 EPS, Q4 2024 earnings at $0.42 EPS, FY2024 earnings at $1.40 EPS and FY2025 earnings at $2.66 EPS.

Duolingo (NASDAQ:DUOLGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. Duolingo had a negative return on equity of 1.72% and a negative net margin of 2.06%. The firm had revenue of $150.99 million during the quarter, compared to analyst estimates of $146.98 million.

A number of other research firms have also recently commented on DUOL. Piper Sandler raised their target price on Duolingo from $217.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday. Barclays raised their price target on shares of Duolingo from $173.00 to $243.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group raised their price target on shares of Duolingo from $230.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America raised their price target on shares of Duolingo from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Needham & Company LLC raised their price target on shares of Duolingo from $210.00 to $241.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $218.11.

Read Our Latest Research Report on DUOL

Duolingo Price Performance

Shares of DUOL opened at $239.00 on Thursday. The business’s 50-day moving average is $199.75 and its two-hundred day moving average is $183.75. The company has a market capitalization of $10.04 billion, a P/E ratio of -885.19 and a beta of 0.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.49 and a current ratio of 3.49. Duolingo has a fifty-two week low of $101.27 and a fifty-two week high of $245.87.

Insider Transactions at Duolingo

In other news, CFO Matthew Skaruppa sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $214.24, for a total transaction of $1,713,920.00. Following the completion of the sale, the chief financial officer now owns 65,224 shares in the company, valued at approximately $13,973,589.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Duolingo news, General Counsel Stephen C. Chen sold 18,000 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $206.87, for a total value of $3,723,660.00. Following the completion of the transaction, the general counsel now owns 35,033 shares in the company, valued at $7,247,276.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Skaruppa sold 8,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $214.24, for a total transaction of $1,713,920.00. Following the completion of the transaction, the chief financial officer now owns 65,224 shares of the company’s stock, valued at approximately $13,973,589.76. The disclosure for this sale can be found here. Insiders sold 136,000 shares of company stock worth $28,158,600 in the last 90 days. Insiders own 19.85% of the company’s stock.

Hedge Funds Weigh In On Duolingo

Institutional investors have recently modified their holdings of the business. Discovery Value Fund acquired a new position in shares of Duolingo in the fourth quarter worth $27,000. FSC Wealth Advisors LLC purchased a new stake in shares of Duolingo during the 4th quarter worth $39,000. Bamco Inc. NY purchased a new stake in shares of Duolingo during the 3rd quarter worth $39,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Duolingo during the 4th quarter worth $73,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Duolingo during the 4th quarter worth $92,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Duolingo Company Profile

(Get Free Report)

Duolingo, Inc operates as a mobile learning platform in the United States, China, 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 language proficiency assessment exam.

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