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Noah Glass, CEO of Olo Inc. (NYSE:OLO), recently sold shares of the company’s Class A common stock, according to a recent SEC filing. The transaction, dated March 7, 2025, involved the sale of 10,665 shares at a weighted average price of $6.3486 per share, totaling approximately $67,707. The sale comes as Olo’s stock has experienced a 9.3% decline over the past week, though it maintains a strong 27.5% gain over the last six months, according to InvestingPro data.
The shares were sold to cover tax withholding obligations related to the vesting and settlement of restricted stock units, as noted in the filing. This transaction was not a discretionary trade by Glass. Following the sale, Glass retains direct ownership of 288,354 shares of Olo Inc. The company maintains strong financial health with a current ratio of 7.52 and more cash than debt on its balance sheet. InvestingPro analysis reveals 8 additional key insights about Olo’s financial position and growth prospects, available in the comprehensive Pro Research Report.
In other recent news, Olo Inc. reported its fourth-quarter 2024 earnings, achieving an earnings per share (EPS) of $0.06 and revenue of $76.1 million, which slightly exceeded analyst expectations. This performance represents a 21% year-over-year increase in revenue. Olo’s full-year revenue for 2024 reached $284.9 million, marking a 25% increase from the previous year. The company’s operating income for the quarter rose to $11.5 million, reflecting a 15.1% operating margin. Additionally, Olo’s Olo Pay service generated over $70 million in revenue for the year, surpassing initial projections and contributing significantly to the company’s financial success.
Goldman Sachs maintained a Neutral rating on Olo’s stock with a price target of $8.50, following the company’s strong financial results. The investment firm highlighted the potential of Olo’s products, such as Olo Pay and the Engage suite, and expressed optimism about future adoption. Olo’s revenue guidance for 2025 suggests a 2% increase over Wall Street’s forecast, with improved margins. The company also announced a partnership with Freedom Pay, expected to accelerate card present payments, which could enhance Olo’s payment processing capabilities.
These developments indicate Olo’s continued growth and strategic initiatives in expanding its product offerings and market presence. The company’s focus on product innovation and market expansion is evident in its recent performance and future guidance. Analysts continue to monitor Olo’s performance, particularly looking for signs of increased cross-selling and meaningful margin improvements.
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