Advertisement
Australia markets open in 5 hours 27 minutes

  • ALL ORDS

    7,898.90
    +37.90 (+0.48%)
     

  • AUD/USD

    0.6419
    -0.0018 (-0.27%)
     

  • ASX 200

    7,642.10
    +36.50 (+0.48%)
     

  • OIL

    82.58
    -0.11 (-0.13%)
     

  • GOLD

    2,396.30
    +7.90 (+0.33%)
     

  • Bitcoin AUD

    97,979.25
    +1,809.34 (+1.88%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

Olo Inc. (OLO) Surges 9.3%: Is This an Indication of Further Gains?

Zacks Equity Research
·2-min read

Olo Inc. OLO shares ended the last trading session 9.3% higher at $10.04. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.7% loss over the past four weeks.

Olo is riding on strong demand for its SaaS-based solutions. The company is witnessing strong transaction volume growth and growing use cases of its solutions.

This company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $45.83 million, up 27.7% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

ADVERTISEMENT

For Olo Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OLO going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Olo Inc. is part of the Zacks Internet - Software industry. AudioEye AEYE, another stock in the same industry, closed the last trading session 2.6% higher at $5.23. AEYE has returned 49.6% in the past month.

AudioEye's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.33. Compared to the company's year-ago EPS, this represents a change of -94.1%. AudioEye currently boasts a Zacks Rank of #2 (Buy).


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research