Olo Inc. (NYSE:OLO) Expected to Announce Earnings of $0.02 Per Share

Brokerages forecast that Olo Inc. (NYSE:OLO) will announce $0.02 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for OLO’s earnings. The firm is scheduled to announce its next earnings report on Tuesday, November 9th.

On average, analysts expect that OLO will report full year earnings of $0.10 per share for the current financial year. For the next year, analysts expect that the business will report earnings of $0.11 per share, with EPS estimates ranging from $0.09 to $0.13. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for OLO.

OLO (NYSE:OLO) last announced its earnings results on Tuesday, August 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company had revenue of $35.90 million for the quarter, compared to the consensus estimate of $34.17 million. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share.

OLO has been the subject of several research analyst reports. Piper Sandler lifted their price objective on OLO from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 11th. Royal Bank of Canada lifted their price objective on OLO from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, August 9th. Finally, Stifel Nicolaus raised OLO from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $41.00 in a research report on Wednesday, August 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $36.00.

In related news, CTO Andrew J. Murray sold 25,000 shares of OLO stock in a transaction that occurred on Thursday, September 16th. The shares were sold at an average price of $33.52, for a total value of $838,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Peter J. Benevides sold 9,000 shares of OLO stock in a transaction that occurred on Tuesday, September 14th. The stock was sold at an average price of $33.17, for a total transaction of $298,530.00. Following the completion of the sale, the chief financial officer now directly owns 9,000 shares in the company, valued at approximately $298,530. The disclosure for this sale can be found here. Insiders sold a total of 80,575 shares of company stock worth $2,704,520 in the last 90 days.

Several large investors have recently bought and sold shares of the stock. Nellore Capital Management LLC bought a new stake in OLO during the 1st quarter valued at $26,000. Castleview Partners LLC bought a new stake in OLO during the 2nd quarter valued at $47,000. Teachers Retirement System of The State of Kentucky bought a new stake in OLO during the 1st quarter valued at $48,000. JPMorgan Chase & Co. raised its holdings in OLO by 137.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,885 shares of the company’s stock valued at $70,000 after acquiring an additional 1,091 shares during the period. Finally, Citigroup Inc. bought a new stake in OLO during the 1st quarter valued at $106,000. 47.07% of the stock is currently owned by institutional investors.

Shares of OLO stock traded up $0.56 during mid-day trading on Wednesday, hitting $33.99. The company’s stock had a trading volume of 498,263 shares, compared to its average volume of 717,209. The stock’s fifty day simple moving average is $36.36. OLO has a 52 week low of $22.88 and a 52 week high of $49.00.

About OLO

Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Ordering, an on-demand commerce solution that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; Dispatch, a fulfillment solution, which enables restaurants to offer, manage, and expand direct delivery; and Rails, an aggregator and channel management solution, which allows restaurants to control and syndicate menu, pricing, location data, and availability.

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Earnings History and Estimates for OLO (NYSE:OLO)

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