Duolingo, Inc. (DUOL) Stock Price & Analysis

Duolingo, Inc. (DUOL) closed at USD 136.39 on Thursday, October 29, 2026, up 0.87% on the day. The US market is currently closed (after-hours); this is not a live price.

The prior close was USD 135.21; the Oct 29, 2026 session ranged USD 131.95–136.7 on volume of 728,403 shares. Market capitalization is $6.35B, with a 52-week range of USD 87.89–279.98 (NMS). Source: Nexqual, retrieved October 29, 2026 at 21:18 UTC.

Also available as compact Markdown for AI agents: nexqual.com/DUOL.md

Key facts (DUOL)

Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (DUOL)

USDFY2021FY2022FY2023FY2024FY2025TTM
Revenue$251M$369M$531M$748M$1.04B$1.15B
Gross profit$182M$270M$389M$544M$749M—
Operating income-$60.0M-$65.2M-$13.3M$62.6M$136M$157M
Net income-$60.1M-$59.6M$16.1M$88.6M$414M$411M
EPS (diluted)-$2.57-$1.51$0.35$1.88$8.57—
Free cash flow$5.6M$48.1M$150M$273M$370M$408M
Gross margin72.4%73.1%73.2%72.8%72.2%—
Operating margin-23.9%-17.6%-2.5%8.4%13.1%13.7%
Net margin-24.0%-16.1%3.0%11.8%39.9%35.9%
Revenue growth+55.1%+47.3%+43.7%+40.8%+38.7%—
Cash + short-term investments$554M$608M$748M$786M$1.04B—

Fiscal years end Dec. EPS is split-adjusted.

Valuation (price ÷ last four quarters, through Jun 30, 2026) (DUOL)

P/E 15.5x · P/S 5.5x · P/FCF 15.6x · P/B 4.5x · FCF yield 6.42% · Earnings yield 6.46%

P/E at fiscal year-ends: Dec 2025 20.5x, Dec 2024 172.4x, Dec 2023 656.8x.

Insider sales (SEC Form 4, open-market, last ~7 months) (DUOL)

9 of 12 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.

Trade dateInsiderRoleSharesValue% of holdings sold10b5-1 planInsider type
2026-10-07Von Ahn LuisPresident & CEO, Co-Founder110,046$16.7M100%Yes (adopted June 2, 2026)Routine (sold in Mar each year 2023–2025; this trade is outside those months)
2026-09-24Von Ahn LuisPresident & CEO, Co-Founder46,682$7.0M100%Yes (adopted June 2, 2026)Routine (sold in Mar each year 2023–2025; this trade is outside those months)
2026-09-21…2026-09-22Von Ahn LuisPresident & CEO, Co-Founder40,980$6.2M100%Yes (adopted June 2, 2026)Routine (sold in Mar each year 2023–2025; this trade is outside those months)
2026-09-16Von Ahn LuisPresident & CEO, Co-Founder28,292$4.3M100%Yes (adopted June 2, 2026)Routine (sold in Mar each year 2023–2025; this trade is outside those months)
2026-09-14Chen Stephen C.General Counsel8,072$1.2M15.6%Yes (adopted June 14, 2026)Routine (sold in Feb & May & Aug & Nov each year 2023–2025; this trade is outside those months)
2026-09-08Gordon William BDirector10,000$1.5M12.8%Yes (adopted June 9, 2026)Too little history (no open-market trades in 2023–2025)
2026-08-17…2026-08-18Glance NatalieChief Engineering Officer4,290$567K2.5%Yes (adopted September 15, 2025)Routine (sold in Feb & Mar & May & Aug & Nov each year 2023–2025)
2026-08-17Meese RobertChief Business Officer1,354$175K0.8%NoRoutine (sold in Feb & May & Aug & Nov each year 2023–2025)
2026-08-17Chen Stephen C.General Counsel1,024$132K1.9%NoRoutine (sold in Feb & May & Aug & Nov each year 2023–2025)
2026-05-15…2026-05-18Chen Stephen C.General Counsel2,797$317K5%Yes (adopted May 27, 2025)Routine (sold in Feb & May & Aug & Nov each year 2023–2025)
2026-05-15…2026-05-18Glance NatalieChief Engineering Officer5,289$598K3%Yes (adopted September 15, 2025)Routine (sold in Feb & Mar & May & Aug & Nov each year 2023–2025)
2026-05-15Meese RobertChief Business Officer1,420$159K0.8%NoRoutine (sold in Feb & May & Aug & Nov each year 2023–2025)

% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).

Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

Analysts (DUOL)

Consensus Hold (mean 2.79 on a 1–5 scale), 24 analysts; mean target USD 136.57 (low 80, high 210).

Rating changes, last 120 days:

DateFirmActionRatingPrice target
2026-10-26Goldman SachsTarget raisedNeutral$114 → $135
2026-09-29DA DavidsonMaintainedBuy$175
2026-09-14DA DavidsonMaintainedBuy$175
2026-09-01Evercore ISI GroupUpgradeIn-Line → Outperform$105 → $210
2026-09-01DA DavidsonTarget raisedBuy$160 → $175
2026-08-27JP MorganTarget raisedNeutral$125 → $135
2026-08-25Argus ResearchReiteratedHold$146
2026-08-20WedbushTarget raisedNeutral$139 → $150
2026-08-18DA DavidsonUpgradeNeutral → Buy$130 → $160
2026-08-07Wells FargoTarget loweredUnderweight$82 → $80
2026-08-06DA DavidsonTarget raisedNeutral$120 → $130
2026-08-06UBSTarget raisedBuy$125 → $150

Total return (dividends reinvested) (DUOL)

1Y (from 2025-10-30)5Y (from 2021-10-25)
Total return-48.1%-21.5%
S&P 500 (SPY)+14.4%+79.1%
Per year-48.2%-4.7%
Volatility (annualized)64.9%59.4%
Max drawdown-66.7% (Oct 2025→Apr 2026)-83.0% (May 2025→Apr 2026)

DUOL earnings history and stock reaction

Results filedQuarterEPSConsensusSurpriseStock reaction
Aug 5, 2026Quarter ended Jun 30, 2026$1.24$1.54Miss −19.5%-11.0%
May 4, 2026Quarter ended Mar 31, 2026$1.45$1.63Miss −11.0%-6.5%
Feb 26, 2026Quarter ended Dec 31, 2025$1.59$1.68Miss −5.4%-9.5%
Jan 12, 2026Quarter ended Dec 31, 2025$1.59$1.68Miss −5.4%-6.1%
Nov 5, 2025Quarter ended Sep 30, 2025$6.80$1.59Beat +327.7%-26.1%
Aug 6, 2025————+14.8%
May 1, 2025————+24.9%
Feb 27, 2025————-19.3%

EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

DUOL recent SEC filings (last 120 days)

FiledFormWhat it says
Oct 20, 2026Schedule 13G/ABAILLIE GIFFORD & CO: 11.3% of shares, passive 5%+ holder (amended)
Aug 19, 20268-KRegulation FD disclosure
Aug 12, 2026Schedule 13G/AVon Ahn Luis: 8.2% of shares, passive 5%+ holder (amended)
Aug 12, 2026Schedule 13GAQR Capital Management, LLC, AQR Capital Management Holdings, LLC: 5.8% of shares, passive 5%+ holder
Aug 10, 20268-KDirector or executive officer change, or pay arrangement; Regulation FD disclosure
“On August 10, 2026, the Board of Directors (the "Board") of Duolingo, Inc. (the "Company") increased the size of the Board from nine to ten directors and appointed Sallie Krawcheck to serve as a Class I director on the Company's Board and as a member of its Audit, Risk and Compliance Committee ("Audit Committee"), in each case, effective immediately. Ms. Krawcheck will serve for a term expiring at the Company's annual meeting of stockholders to be held in 2028 and until her successor is duly elected and qualified…”
Aug 6, 202610-QQuarterly report · period ended Jun 30, 2026
Aug 5, 20268-KQuarterly results
Jul 31, 2026Schedule 13GVanguard Capital Management: 5.1% of shares, passive 5%+ holder

Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.

DUOL revenue by product line (quarter ended Jun 30, 2026)

LineRevenueShare of totalYoY
Subscription$258.0M86.5%+22.5%
Advertising$21.1M7.1%+2.2%
Duolingo English Test$10.1M3.4%+0.2%
IAPs$8.0M2.7%-23.0%
Other$1.3M0.4%+148.2%
Total revenue$298.5M100%—

DUOL revenue by region (fiscal year ended Dec 31, 2025)

LineRevenueShare of totalYoY
Non Us$645.4M62.2%+47.9%
United States$392.2M37.8%+25.9%
Total revenue$1.04B100%—

As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).

DUOL suppliers, customers and competitors (named in its 10-K)

RelationshipCompanySentence in the filing
SupplierAlphabet (Google) (GOOGL)“•We rely on third-party hosting and cloud computing providers, like Amazon Web Services ("AWS") and Google Cloud, to operate certain aspects of our business.”
SupplierAmazon (AMZN)“•We rely on third-party hosting and cloud computing providers, like Amazon Web Services ("AWS") and Google Cloud, to operate certain aspects of our business.”
SupplierApple (AAPL)“We depend on Apple and Google approving our mobile applications to be distributed on their respective platforms.”

Quoted from the company's 10-K filed Feb 27, 2026.

DUOL customer concentration

In the period ended Jun 30, 2026, 3 direct customers each accounted for at least 10% (59.6%, 23.2%, 11.9%) of revenue, per the company's 10-Q filed Aug 6, 2026. The company does not name them.

DUOL analyst estimates and revisions

PeriodEPS estimate90 days agoChangeRevenue estimateAnalysts
Current quarter (ends Sep 2026)$1.58$1.54+3.0%$303.1M4
Next quarter (ends Dec 2026)$1.70$1.78-4.7%$314.5M4
Current fiscal year (ends Dec 2026)$6.61$6.69-1.1%$1.21B7
Next fiscal year (ends Dec 2027)$7.64$7.85-2.7%$1.37B7

DUOL options: expected move

Options price a move of about ±13.7% (±$18.65) by Nov 6, 2026, which includes earnings on Nov 3, 2026. Over the last 8 reports the stock moved ±14.8% on average.

ExpirationDaysATM implied volatilityExpected move
Oct 30, 2026181.2%±3.4%
Nov 6, 20268115.7%±13.7%
Nov 13, 20261593.8%±15.1%
Nov 20, 20262281.7%±15.9%
Nov 27, 20262978.2%±17.5%
Dec 4, 20263674.2%±18.5%
Dec 11, 20264370.8%±19.3%
Dec 18, 20265067.7%±19.8%

30-day implied volatility 76.1% vs 50.8% realized over the last 30 trading days. Put/call ratio (volume) 0.55. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.

Key Statistics (as of October 29, 2026 at 21:18 UTC)

PriceUSD 136.39
Change▲ 0.87% (up)
Previous CloseUSD 135.21
OpenUSD 132.68
Day RangeUSD 131.95 – 136.7
52-Week RangeUSD 87.89 – 279.98
Volume728,403 shares
Market Cap$6.35B
ExchangeNMS

Technical Analysis (DUOL)

Nexqual's technical model rates DUOL "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 29, 2026 at 21:18 UTC.

Overall SignalSTRONG SELL
RSI (14)41.74 (neutral)
vs SMA50Below (USD 145.55)
MACD-2.03 (negative)

Analyst Ratings (DUOL)

Wall Street analysts rate DUOL "Hold" based on 24 analysts, with a mean price target of USD 136.57 (range USD 80–210), per Nexqual as of October 29, 2026 at 21:18 UTC.

Consensus RatingHold
Analyst Count24
Mean TargetUSD 136.57
High TargetUSD 210
Low TargetUSD 80
Buy / Hold / Sell6 / 16 / 2

Earnings (DUOL)

Next Earnings Date2026-11-03
EPS EstimateUSD 1.59
Revenue Estimate$303.10M

Recent Earnings History

QuarterActual vs Estimate
2026-06-30USD 1.24 vs est 1.54 ▼ miss
2026-03-31USD 1.45 vs est 1.63 ▼ miss
2025-12-31USD 1.59 vs est 1.68 ▼ miss
2025-09-30USD 6.8 vs est 1.59 ▲ beat

Source: Nexqual, October 29, 2026 at 21:18 UTC.

Financials & Fundamentals (DUOL)

Total Revenue$1.15B
Revenue Growth (latest quarter, YoY)+18.30%
Gross Margin+72.72%
Operating Margin+11.68%
Profit Margin+35.88%
ROE+34.42%
Debt / Equity0.06
Current Ratio2.72
Total Cash$1.31B
Total Debt$86.14M
Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K)$407.93M (35.6% of revenue)

Source: Nexqual, October 29, 2026 at 21:18 UTC.

Financial Health Score (DUOL)

Nexqual rates Duolingo, Inc.'s overall financial health "Strong" across five dimensions, as of October 29, 2026 at 21:18 UTC.

GrowthStrong — Revenue +39% YoY (annual)
ProfitabilityStrong — Gross margin 73%, operating 14% (last 4 quarters to Jun 2026, SEC)
Balance SheetStrong — $1.31B cash vs $86M debt, net cash position
Cash FlowStrong — FCF $408M (last 4 quarters to Jun 2026, SEC), 36% margin
EfficiencyStrong — ROE 29%, ROA 19.8% (last 4 quarters, SEC)

Ownership (DUOL)

Insider Ownership+1.50%
Institutional Ownership+99.12%
Shares Outstanding40.24M
Float39.97M
Short % of Float+20.23%

Source: Nexqual, October 29, 2026 at 21:18 UTC.

Leadership (DUOL)

Duolingo, Inc. is led by Luis Alfonso von Ahn Arellano, Co-Founder, Chairman of the Board, President & CEO, per Nexqual as of October 29, 2026 at 21:18 UTC.

Co-Founder, Chairman of the Board, President & CEOLuis Alfonso von Ahn Arellano
Chief Financial OfficerGillian Munson
Co-Founder, CTO & DirectorSeverin Benedict Hacker
Chief Marketing OfficerManu Orssaud

Major Backers & Investors (DUOL)

Notable institutional backers of Duolingo, Inc. include Baillie Gifford, AQR Capital Management, LLC, Two Sigma Investments, LP, according to Nexqual as of October 29, 2026 at 21:18 UTC.

Active Investors

InvestorStake
Baillie Gifford11.95%
AQR Capital Management, LLC5.78%
Two Sigma Investments, LP4.03%
FIL LTD3.97%
Federated Hermes, Inc.3.4%
STATE OF MICHIGAN RETIREMENT SYSTEM3.23%
Fidelity0.67%

Index Funds (Passive)

FundStake
BlackRock9.58%
Vanguard Group8.29%
State Street3.04%

Source: Nexqual, October 29, 2026 at 21:18 UTC.

From Duolingo, Inc.'s Latest SEC 10-K Filing (filed 2026-02-27)

Key Strengths & Strategy (as disclosed to the SEC)

Legal & Regulatory Risks (Item 1A, quoted)

Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.

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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 21:18 UTC. This page is informational and not investment advice.

For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt