OLO (NYSE:OLO) Releases Quarterly Earnings Results, Meets Estimates

OLO (NYSE:OLO) issued its quarterly earnings data on Tuesday. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05, Briefing.com reports. The company had revenue of $66.51 million for the quarter, compared to analyst estimates of $64.22 million. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The company’s revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share.

OLO Stock Performance

NYSE:OLO opened at $4.71 on Wednesday. OLO has a 52 week low of $4.25 and a 52 week high of $8.84. The firm has a market cap of $762.55 million, a price-to-earnings ratio of -13.08 and a beta of 1.29. The firm’s 50-day simple moving average is $5.22 and its 200 day simple moving average is $5.35.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased their price objective on shares of OLO from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.10.

About OLO

Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.