Olo (OLO) Surges 13.6%: Is This an Indication of Further Gains?

Olo Inc. OLO shares rallied 13.6% in the last trading session to close at $10.12. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.3% gain over the past four weeks.Olo is benefiting from the growing digitization of restaurant operations, increased adoption of its modules, and strong customer retention and expansion.This company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +60%. Revenues are expected to be $82.27 million, up 16.7% 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.For Olo, 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Olo belongs to the Zacks Internet - Software industry. Another stock from the same industry, Workiva WK, closed the last trading session 2% higher at $69.22. Over the past month, WK has returned -0.1%.Workiva's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. Compared to the company's year-ago EPS, this represents a change of -68.8%. Workiva currently boasts a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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 Olo Inc. (OLO): Free Stock Analysis Report Workiva Inc. (WK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks