OLO (NYSE:OLO) Releases Quarterly Earnings Results, Meets Estimates

OLO (NYSE:OLO) issued its quarterly earnings results on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05, Briefing.com reports. OLO had a negative return on equity of 1.56% and a negative net margin of 19.35%. The company had revenue of $70.50 million for the quarter, compared to analyst estimates of $67.79 million. During the same quarter last year, the company posted ($0.04) EPS. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. OLO updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

OLO Stock Up 13.0 %

OLO traded up $0.62 during midday trading on Thursday, hitting $5.40. 4,188,037 shares of the company were exchanged, compared to its average volume of 987,495. The firm has a market capitalization of $866.81 million, a P/E ratio of -18.62 and a beta of 1.26. OLO has a 1-year low of $4.20 and a 1-year high of $8.84. The firm’s 50 day moving average price is $4.55 and its 200-day moving average price is $5.01.

Insiders Place Their Bets

In other OLO news, COO Joanna G. Lambert sold 6,290 shares of OLO stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.51, for a total transaction of $28,367.90. Following the transaction, the chief operating officer now directly owns 659,049 shares of the company’s stock, valued at approximately $2,972,310.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO Diego Panama sold 9,392 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.52, for a total value of $42,451.84. Following the transaction, the executive now directly owns 583,414 shares of the company’s stock, valued at approximately $2,637,031.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joanna G. Lambert sold 6,290 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.51, for a total value of $28,367.90. Following the completion of the transaction, the chief operating officer now directly owns 659,049 shares in the company, valued at $2,972,310.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,686 shares of company stock valued at $362,798. 39.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OLO shares. Lake Street Capital boosted their price objective on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler restated an “overweight” rating and set a $8.00 price objective on shares of OLO in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.40.

OLO Company Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.