Duolingo Analysts Raise Their Forecasts After Upbeat Q4 Results
Portfolio Pulse from Avi Kapoor
Duolingo, Inc. (NASDAQ:DUOL) exceeded Q4 expectations with $150.99 million in revenue and 26 cents EPS, surpassing estimates. Year-over-year, total bookings increased by 51% and paid subscribers by 57%. The company projects Q1 revenue between $164 million and $167 million, and full-year revenue between $717.5 million and $729.5 million, both above estimates. Following the report, Duolingo shares rose 0.5%, and analysts from Piper Sandler and UBS raised their price targets for DUOL.
February 29, 2024 | 1:34 pm
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Duolingo reported strong Q4 results with revenue and EPS beating estimates, significant year-over-year growth in bookings and subscribers, and optimistic future revenue projections. Analysts from Piper Sandler and UBS raised their price targets.
Duolingo's better-than-expected Q4 results and positive future revenue guidance indicate strong company performance and growth potential. Analysts' raised price targets reflect increased confidence in the company's stock, likely leading to a positive short-term impact on DUOL's stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100