Duolingo Inc. (DUOL) Stock Falls on Q1 2026 Earnings

Duolingo Inc. ($DUOL) reported first-quarter 2026 revenue of $292.0 million, up 26.5% year-over-year, with gross profit of $213.1 million, up 29.9%.

Income statement highlights

Revenue: $292.0 million (+26.5% year-over-year)

Gross profit: $213.1 million (+29.9% YoY)

Operating profit: $44.5 million (+88.7% YoY)

Net income attributable to common shareholders: $43.5 million (+23.7% YoY)

Diluted EPS: $0.89 (+23.6% YoY)

Cash flow and balance sheet

Cash from operating activities: $150.8 million (+42.7% YoY)

Purchases of property, plant and equipment: $(10.7 million) (up 719.5% YoY)

Cash and cash equivalents: $1.14 billion (+28.8% YoY)

Total liabilities: $666.2 million (+30.8% YoY)

Cost of sales: $78.9 million (+18.3% YoY)

Duolingo slightly missed the revenue consensus of $294.3 million but outperformed on earnings, delivering diluted EPS of $0.89 versus an estimate of $0.76. Shares were down 3.5% since market close.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Duolingo Inc. Insider Trading Activity

Duolingo Inc. insiders have traded $DUOL stock on the open market 53 times in the past 6 months. Of those trades, 1 have been purchases and 52 have been sales.

Here’s a breakdown of recent trading of $DUOL stock by insiders over the last 6 months:

SEVERIN HACKER (Chief Tech Officer, Co-Founder) has made 0 purchases and 18 sales selling 20,000 shares for an estimated $4,358,740.
MATTHEW SKARUPPA (Chief Financial Officer) has made 0 purchases and 11 sales selling 11,714 shares for an estimated $1,694,028.
NATALIE GLANCE (Chief Engineering Officer) has made 0 purchases and 11 sales selling 10,291 shares for an estimated $1,479,308.
STEPHEN C. CHEN (General Counsel) has made 0 purchases and 10 sales selling 5,593 shares for an estimated $808,323.
JAMES H SHELTON purchased 5,000 shares for an estimated $498,792
ROBERT MEESE (Chief Business Officer) has made 0 purchases and 2 sales selling 2,444 shares for an estimated $367,019.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

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Duolingo Inc. Hedge Fund Activity

We have seen 219 institutional investors add shares of Duolingo Inc. stock to their portfolio, and 360 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BAILLIE GIFFORD & CO added 2,033,611 shares (+71.9%) to their portfolio in Q4 2025, for an estimated $356,898,730
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 798,403 shares (-62.2%) from their portfolio in Q4 2025, for an estimated $140,119,726
DURABLE CAPITAL PARTNERS LP removed 755,738 shares (-86.4%) from their portfolio in Q4 2025, for an estimated $132,632,019
STATE OF MICHIGAN RETIREMENT SYSTEM added 632,807 shares (+112.9%) to their portfolio in Q1 2026, for an estimated $62,375,785
FMR LLC removed 537,909 shares (-16.9%) from their portfolio in Q4 2025, for an estimated $94,403,029
FIL LTD added 497,517 shares (+1715575.9%) to their portfolio in Q4 2025, for an estimated $87,314,233
DRAGONEER INVESTMENT GROUP, LLC removed 420,900 shares (-26.6%) from their portfolio in Q4 2025, for an estimated $73,867,950

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

Duolingo Inc. Analyst Ratings

Wall Street analysts have issued reports on $DUOL in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Needham issued a "Buy" rating on 11/06/2025
JP Morgan issued a "Overweight" rating on 11/06/2025

To track analyst ratings and price targets for Duolingo Inc., check out Quiver Quantitative's $DUOL forecast page.

Duolingo Inc. Price Targets

Multiple analysts have issued price targets for $DUOL recently. We have seen 14 analysts offer price targets for $DUOL in the last 6 months, with a median target of $112.0.

Here are some recent targets:

Bryan Smilek from JP Morgan set a target price of $92.0 on 04/20/2026
Mario Lu from Barclays set a target price of $110.0 on 03/02/2026
Eric Sheridan from Goldman Sachs set a target price of $105.0 on 03/02/2026
Mark Mahaney from Evercore ISI Group set a target price of $114.0 on 02/27/2026
Nathan Feather from Morgan Stanley set a target price of $100.0 on 02/27/2026
Ryan MacDonald from Needham set a target price of $145.0 on 02/27/2026
Wyatt Swanson from DA Davidson set a target price of $85.0 on 02/27/2026