Why Are Duolingo Shares Plunging Today

  • Duolingo, Inc DUOL reported third-quarter FY22 revenue growth of 51% year-on-year to $96.1 million, beating the consensus of $95.2 million.
  • Total bookings were $102.7 million, up 41% Y/Y.
  • Monthly active users (MAUs) grew 35% to 56.5 million Y/Y, and Daily active users (DAUs) grew 51% to 14.9 million Y/Y.
  • EPS loss of $(0.46) beat the consensus loss of $(0.55).
  • Duolingo sees Q4 revenue of $98.0 million - $101.0 million, above the consensus of $100.4 million.
  • It sees FY22 revenue of $364.0 million - $367.0 million versus the consensus of $365.3 million.
  • JMP Securities analyst Andrew Boone reiterated a Buy rating with a price target of $128.00.
  • Needham analyst Ryan MacDonald maintained a Buy rating with a price target of $115.00. 
  • Raymond James analyst Aaron Kessler reaffirmed an Outperform and cut the price target from $111 to $109.
  • Barclays analyst Mario Lu reiterated an Equal-Weight and reduced the price target from $102 to $83.
  • B of A Securities analyst Nat Schindler maintained a Buy and slashed the price target from $130 to $105.
  • Price Action: DUOL shares traded lower by 13.7% at $73.18 on the last check Friday.
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