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Duolingo, Inc. (DUOL) Dips More Than Broader Market: What You Should Know
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Duolingo, Inc. (DUOL - Free Report) closed the most recent trading day at $178.57, moving -1.32% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.78%. On the other hand, the Dow registered a loss of 1.29%, and the technology-centric Nasdaq decreased by 0.7%.
Heading into today, shares of the company had lost 14.58% over the past month, lagging the Business Services sector's loss of 1.09% and the S&P 500's gain of 2.14% in that time.
Market participants will be closely following the financial results of Duolingo, Inc. in its upcoming release. The company plans to announce its earnings on August 7, 2024. In that report, analysts expect Duolingo, Inc. to post earnings of $0.33 per share. This would mark year-over-year growth of 312.5%. Alongside, our most recent consensus estimate is anticipating revenue of $176.81 million, indicating a 39.39% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.74 per share and revenue of $731.79 million, indicating changes of +397.14% and +37.78%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Duolingo, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Duolingo, Inc. boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Duolingo, Inc. is holding a Forward P/E ratio of 104.19. This valuation marks a premium compared to its industry's average Forward P/E of 23.26.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Duolingo, Inc. (DUOL) Dips More Than Broader Market: What You Should Know
Duolingo, Inc. (DUOL - Free Report) closed the most recent trading day at $178.57, moving -1.32% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.78%. On the other hand, the Dow registered a loss of 1.29%, and the technology-centric Nasdaq decreased by 0.7%.
Heading into today, shares of the company had lost 14.58% over the past month, lagging the Business Services sector's loss of 1.09% and the S&P 500's gain of 2.14% in that time.
Market participants will be closely following the financial results of Duolingo, Inc. in its upcoming release. The company plans to announce its earnings on August 7, 2024. In that report, analysts expect Duolingo, Inc. to post earnings of $0.33 per share. This would mark year-over-year growth of 312.5%. Alongside, our most recent consensus estimate is anticipating revenue of $176.81 million, indicating a 39.39% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.74 per share and revenue of $731.79 million, indicating changes of +397.14% and +37.78%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Duolingo, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Duolingo, Inc. boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Duolingo, Inc. is holding a Forward P/E ratio of 104.19. This valuation marks a premium compared to its industry's average Forward P/E of 23.26.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.