OLO (NYSE:OLO) Releases Earnings Results, Meets Expectations

OLO (NYSE:OLO) released its quarterly earnings data on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05, Briefing.com reports. The firm had revenue of $70.50 million during the quarter, compared to analysts’ expectations of $67.79 million. OLO had a negative net margin of 19.35% and a negative return on equity of 1.56%. OLO’s revenue was up 27.6% compared to the same quarter last year. During the same period last year, the business earned ($0.04) earnings per share. OLO updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

OLO Stock Performance

Shares of OLO traded up $0.62 during midday trading on Thursday, hitting $5.40. 4,187,401 shares of the stock were exchanged, compared to its average volume of 987,491. OLO has a 52-week low of $4.20 and a 52-week high of $8.84. The stock has a fifty day simple moving average of $4.53 and a 200 day simple moving average of $5.00. The firm has a market cap of $866.81 million, a P/E ratio of -18.59 and a beta of 1.26.

Insider Activity at OLO

In related news, CRO Diego Panama sold 40,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $4.70, for a total transaction of $188,000.00. Following the completion of the transaction, the executive now directly owns 592,806 shares in the company, valued at approximately $2,786,188.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Joanna G. Lambert sold 6,290 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.51, for a total transaction of $28,367.90. Following the sale, the chief operating officer now owns 659,049 shares of the company’s stock, valued at $2,972,310.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Diego Panama sold 40,000 shares of OLO stock in a transaction on Friday, May 10th. The shares were sold at an average price of $4.70, for a total value of $188,000.00. Following the completion of the transaction, the executive now owns 592,806 shares of the company’s stock, valued at $2,786,188.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,686 shares of company stock worth $362,798. 39.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

OLO has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $8.00 price target on shares of OLO in a report on Thursday. Lake Street Capital lifted their target price on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, OLO presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

About OLO

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.