Yahoo Finance Here's Why You Should Invest in Duolingo (DUOL) Stock Now
Duolingo, Inc. DUOL is a popular language-learning platform that offers interactive lessons in numerous languages. Utilizing gamified techniques, it engages users with exercises, quizzes and challenges. Its user-friendly interface makes language acquisition enjoyable and accessible for learners worldwide.
The company’s top line is currently reaping the benefits of an increase in daily and monthly average users, and a surge in the number of subscribers. Revenues increased 45% year over year in the first quarter of 2024. DUOL’s bottom line is benefiting from product excellence and innovation. Net income in the first quarter of 2024 came in at $27 million compared with a net loss of $2.6 million in the year-ago quarter.
Duolingo, Inc. Revenue (TTM)
Duolingo, Inc. revenue-ttm | Duolingo, Inc. Quote
Let’s take a look at some other factors that make the stock an attractive pick.
Solid Rank: Duolingo currently sports a Zacks Rank #1 (Strong Buy). Our research shows that stocks with a Zacks Rank #1 or 2 (Buy) offer attractive investment opportunities for investors. Thus, the company appears to be a compelling investment proposition at the moment.
Northward Estimate Revisions: Six estimates for 2024 moved north in the past 30 days versus no southward revision, reflecting analysts’ confidence in the company. The Zacks Consensus Estimate for 2024 earnings has moved up 26.1% in the past 30 days.
Positive Earnings Surprise History: DUOL has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an earnings surprise of 115.2%, on average.
Strong Growth Prospects: The Zacks Consensus Estimate for DOUL’s 2024 earnings is pegged at $1.74, indicating more than 100% growth from the year-ago levels. Earnings in 2025 are expected to increase 51.8% from the prior-year actuals.
Other Stocks to Consider
Here are some other top-ranked stocks from the broader Business Service sector that investors may consider:
Conduent CNDT: The company is a global provider of digital business solutions and services to commercial, government and transportation clients. It is currently focused on rationalizing its portfolio to increase revenue generation opportunities. The approach should help CNDT free up capital for the purpose of reducing debt, buying back shares and pursuing other opportunities that promise growth.
The Zacks Consensus Estimate for CNDT’s 2024 earnings has been revised 56.6% northward in the past 60 days to $1.66. CNDT currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Barrett Business Services BBSI: The company offers business management solutions tailored for small and mid-sized enterprises across the United States.
With a growing client base, it is experiencing an expansion in gross billings. The company remains buoyed by successful marketing efforts, the introduction of new products and the implementation of BBSI Benefits. With these factors driving momentum, the outlook for 2024 is optimistic, positioning the company for a robust performance.
The Zacks Consensus Estimate for the company’s 2024 earnings has been revised 2.2% northward in the past 60 days to $7.95. BBSI also currently carries a Zacks Rank #2.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Barrett Business Services, Inc. (BBSI) : Free Stock Analysis Report
Conduent Inc. (CNDT) : Free Stock Analysis Report
Duolingo, Inc. (DUOL) : Free Stock Analysis Report
