Duolingo (DUOL) shares jumped around 10% this week trading after the company reported quarterly earnings and guidance above consensus expectations.
The company reported Q3 EPS of $0.06, $0.14 better than the analysts' estimate of ($0.08), while revenue for the quarter came in at $153.6 million, up 43% YoY and well above the consensus estimate of $132.15 million.
Total bookings in the quarter were $153.6 million, rising 49% from the prior-year quarter, while subscription bookings were $121.3 million, an increase of 54%.
Furthermore, paid subscribers totaled 5.8 million at quarter end, a 60% increase YoY, with monthly active users (MAUs) at 83.1 million, representing a 47% jump from last year. Daily active users (DAUs) came in at 24.2 million.
Technical Analysis
The stock is currently trading above its 50-day and 200-day moving averages, indicating a bullish trend1. The stock also has a Relative Strength Index (RSI) of 59, which is neither overbought nor oversold.
The stock may face some resistance at the $165 level, which was the previous high on September 29, 20211. If the stock can break above this level, it may test the $180 level, which was the all-time high on August 9, 2021. On the other side, the stock may find support at the $150 level, which was the low on October 20, 2021
The company reported Q3 EPS of $0.06, $0.14 better than the analysts' estimate of ($0.08), while revenue for the quarter came in at $153.6 million, up 43% YoY and well above the consensus estimate of $132.15 million.
Total bookings in the quarter were $153.6 million, rising 49% from the prior-year quarter, while subscription bookings were $121.3 million, an increase of 54%.
Furthermore, paid subscribers totaled 5.8 million at quarter end, a 60% increase YoY, with monthly active users (MAUs) at 83.1 million, representing a 47% jump from last year. Daily active users (DAUs) came in at 24.2 million.
Technical Analysis
The stock is currently trading above its 50-day and 200-day moving averages, indicating a bullish trend1. The stock also has a Relative Strength Index (RSI) of 59, which is neither overbought nor oversold.
The stock may face some resistance at the $165 level, which was the previous high on September 29, 20211. If the stock can break above this level, it may test the $180 level, which was the all-time high on August 9, 2021. On the other side, the stock may find support at the $150 level, which was the low on October 20, 2021
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