$36.31 Million in Sales Expected for Olo Inc. (NYSE:OLO) This Quarter

Wall Street brokerages expect that Olo Inc. (NYSE:OLO) will post $36.31 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for OLO’s earnings. The lowest sales estimate is $36.28 million and the highest is $36.35 million. The company is expected to issue its next earnings report on Tuesday, November 9th.

According to Zacks, analysts expect that OLO will report full-year sales of $145.39 million for the current fiscal year, with estimates ranging from $145.15 million to $145.59 million. For the next year, analysts anticipate that the company will post sales of $185.83 million, with estimates ranging from $179.01 million to $191.11 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover OLO.

OLO (NYSE:OLO) last posted its quarterly earnings data on Tuesday, August 10th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $34.17 million. During the same period in the prior year, the company posted $0.05 earnings per share. OLO’s quarterly revenue was up 47.7% compared to the same quarter last year.

A number of analysts have commented on the stock. Piper Sandler upped their price objective on shares of OLO from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, August 11th. Stifel Nicolaus raised shares of OLO from a “hold” rating to a “buy” rating and upped their price objective for the company from $27.00 to $41.00 in a research note on Wednesday, August 11th. Finally, Royal Bank of Canada upped their price objective on shares of OLO from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, August 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $36.00.

OLO stock opened at $28.55 on Thursday. OLO has a one year low of $22.88 and a one year high of $49.00. The firm has a 50-day moving average of $34.45 and a two-hundred day moving average of $33.26.

In related news, CEO Noah H. Glass sold 57,811 shares of the stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $29.86, for a total value of $1,726,236.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Peter J. Benevides sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 14th. The stock was sold at an average price of $33.17, for a total value of $298,530.00. Following the completion of the transaction, the chief financial officer now owns 9,000 shares in the company, valued at approximately $298,530. The disclosure for this sale can be found here. Insiders sold 309,449 shares of company stock valued at $9,519,586 over the last three months.

Hedge funds have recently made changes to their positions in the business. Nellore Capital Management LLC acquired a new position in OLO during the first quarter valued at approximately $26,000. Castleview Partners LLC acquired a new stake in shares of OLO in the second quarter worth $47,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of OLO in the first quarter worth $48,000. JPMorgan Chase & Co. lifted its position in OLO by 137.4% in the second quarter. JPMorgan Chase & Co. now owns 1,885 shares of the company’s stock worth $70,000 after purchasing an additional 1,091 shares during the period. Finally, Citigroup Inc. bought a new position in OLO in the first quarter worth $106,000. Institutional investors own 47.07% of the company’s stock.

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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