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Strength Seen in Olo Inc. (OLO): Can Its 6.3% Jump Turn into More Strength?
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Olo Inc. (OLO - Free Report) shares ended the last trading session 6.3% higher at $7.14. 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 2.3% loss over the past four weeks.
Olo is riding on growing transaction volume and continued momentum in average revenue per unit growth. It recently expanded portfolio with the launch of ten products across its three product suites. Growing clientele is a key catalyst.
This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $53.22 million, up 16.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
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.
Olo Inc. is a member of the Zacks Internet - Software industry. One other stock in the same industry, Enfusion, Inc. , finished the last trading session 2.6% lower at $11.08. ENFN has returned 25.9% over the past month.
For Enfusion, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. This represents a change of +25% from what the company reported a year ago. Enfusion, Inc. currently has a Zacks Rank of #2 (Buy).
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Strength Seen in Olo Inc. (OLO): Can Its 6.3% Jump Turn into More Strength?
Olo Inc. (OLO - Free Report) shares ended the last trading session 6.3% higher at $7.14. 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 2.3% loss over the past four weeks.
Olo is riding on growing transaction volume and continued momentum in average revenue per unit growth. It recently expanded portfolio with the launch of ten products across its three product suites. Growing clientele is a key catalyst.
This company is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $53.22 million, up 16.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
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 a member of the Zacks Internet - Software industry. One other stock in the same industry, Enfusion, Inc. , finished the last trading session 2.6% lower at $11.08. ENFN has returned 25.9% over the past month.
For Enfusion, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. This represents a change of +25% from what the company reported a year ago. Enfusion, Inc. currently has a Zacks Rank of #2 (Buy).