Olo, Inc. engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. The company was founded in 2005 and is headquartered in New York, NY. «Growing consumer demand for convenience has made off-premise consumption, which includes take-out, drive-thru, and delivery orders, the single largest contributor to restaurant industry growth,» the company wrote in a regulatory filing. The mean estimate comprises five short-term price targets with a standard deviation of $0.84. While the lowest estimate of $8 indicates a 24.4% increase from the current price level, the most optimistic analyst expects the stock to surge 55.5% to reach $10. It’s very important to note the standard deviation here, as it helps understand the variability of the estimates.
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Before the pandemic made delivery a lifeline for restaurants, Olo’s IPO valuation was rumored to be hovering around $1 billion, according to Bloomberg. After the pandemic, that target price has tripled to $3 billion, showing the big leap in institutional investor appetite for what Olo is doing. Glass’ company, Olo, filed its IPO paperwork on Friday, February 19th.
Hear how enterprise brands like Freddy’s Frozen Custard & Steakburgers, Kahala Brands, and CKE are able to eliminate complexity and streamline operations. Satisfy demand for direct delivery and eliminate the need to manage couriers. Generate more online orders with a customizable, fast, and reliable platform. Whether you’re looking to migrate or integrate, Olo has the solutions and integrations you need to go further, faster in your digital journey. Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days. While many investors like to look for momentum in stocks, this can be very tough to define.
- Investors should also take note of OLO’s average 20-day trading volume.
- Getting Olo customers to use all three modules will be a key growth strategy.
- Olo’s platform processes an average of about 1.8 million orders a day.
- A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand.
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There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Olo has been doing very well even before the pandemic, it actually doubled GMV in the past 7 years. The pandemic has definitely accelerated its growth plans but that does not mean it’ll stop growing any time soon. Keep operations running smoothly by tracking online orders from anywhere in your restaurant—back-of-house with Dashboard or front-of-house with Expo. Monitor performance, process refunds, check order statuses, and more.
This company is expected to earn $0.23 per share for the fiscal year ending December 2024, which represents a year-over-year change of 53.3%. Please bear with us as we address this and restore your personalized lists. Olo has helped us tremendously by serving as a centralized hub for all best swing trade stocks right now of our digital ordering platforms.
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Clients include Wingstop, Applebee’s, Chili’s, Denny’s, Five Guys Burgers & Fries, Jamba, Noodles & Company, Shake Shack, Sweetgreen, Red Robin, Dairy Queen, and Cracker Barrel. The company plans to raise $450 million by offering 18 million shares at $25 a share under the NYSE ticker «Olo.» That’s up from a previous range of $16 to $18 a share set earlier this month. read download the complete turtletrader pdf Olo solved several pain points, including multiple third-party tablets and order management issues, while also streamlining operations, allowing us to own our guest relationships, and helping us become a bigger food destination.
Platform revenue hiked 136 percent to $34.9 million and gross profit increased 150 percent to $29.3 million (81 percent of total revenue). The company’s strategy is to work with large, well-capitalized national chains – the «fastest-growing restaurant brands in the industry,» according to Olo’s S-1 filing. Contact us today to find out why hundreds exchange rate online eur to usd of America’s most-loved brands use Olo to increase orders, streamline operations, and improve the guest experience.
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It’s also the engine behind the phenomenon of MrBeast Burger, which has spread north of 600 locations. New York-based Olo, short for «online ordering,» was founded by Noah Glass in 2005, about one year after Grubhub was founded and several years before DoorDash and Postmates were household names. Drive sales, do more with less, and make every guest feel like a regular with Olo.
To take tasks like punching in orders, repeating them back, correcting them, and taking payment, off the plate of frontline workers. Digitize all of that so Shake Shack could become more hospitable in a new digital age. An interesting distinction over the years is Olo didn’t divulge into becoming a consumer brand alongside that growth. Olo currently serves more than 400 restaurant brands across the aforementioned 69,000 individual locations. Quite a leap from when Glass founded the company after asking himself why he couldn’t get a cup of coffee faster by ordering ahead and skipping the line. Olo projects its «addressable market opportunity is $7 billion» as the pandemic fueled the acceleration of new kinds of contactless digital ordering for both dine-in and takeout customers, the company stated in its IPO paperwork.