Olo Inc. (NYSE:OLO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Olo Inc. (NYSE:OLO) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $9.10.

Separately, Piper Sandler increased their price target on OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd.

Insider Buying and Selling at OLO

In other OLO news, CRO Diego Panama sold 40,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $4.70, for a total value of $188,000.00. Following the sale, the executive now owns 592,806 shares of the company’s stock, valued at approximately $2,786,188.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 39.12% of the company’s stock.

Institutional Investors Weigh In On OLO

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of OLO during the 3rd quarter valued at $165,000. Bank of New York Mellon Corp boosted its holdings in shares of OLO by 9.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,729,180 shares of the company’s stock valued at $10,479,000 after acquiring an additional 144,759 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of OLO by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,630 shares of the company’s stock valued at $277,000 after acquiring an additional 8,345 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of OLO by 94.6% during the 3rd quarter. Panagora Asset Management Inc. now owns 577,563 shares of the company’s stock valued at $3,500,000 after acquiring an additional 280,811 shares in the last quarter. Finally, Black Swift Group LLC acquired a new stake in shares of OLO during the 3rd quarter valued at $91,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

OLO Price Performance

Shares of NYSE:OLO opened at $4.71 on Thursday. The company has a market capitalization of $756.05 million, a P/E ratio of -16.24 and a beta of 1.29. OLO has a 1 year low of $4.25 and a 1 year high of $8.84. The business’s 50 day simple moving average is $5.02 and its 200 day simple moving average is $5.30.

OLO (NYSE:OLO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $66.51 million for the quarter, compared to the consensus estimate of $64.22 million. OLO had a negative return on equity of 1.56% and a negative net margin of 19.35%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) earnings per share. On average, sell-side analysts anticipate that OLO will post -0.08 EPS for the current fiscal year.

OLO Company Profile

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.