OLO (NYSE:OLO) Rating Increased to Hold at Zacks Investment Research

OLO (NYSE:OLOGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Olo Inc. makes online-ordering technology for restaurants. Olo Inc. is based in New York. “

Several other research analysts have also commented on OLO. Piper Sandler decreased their price objective on shares of OLO from $33.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, February 24th. Truist Financial reduced their target price on shares of OLO from $45.00 to $25.00 in a research report on Thursday, February 24th. Finally, StockNews.com initiated coverage on shares of OLO in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $31.00.

Shares of NYSE OLO opened at $10.62 on Wednesday. OLO has a 12 month low of $10.13 and a 12 month high of $49.00. The firm has a market capitalization of $1.69 billion and a PE ratio of -14.35. The firm has a fifty day simple moving average of $12.95 and a two-hundred day simple moving average of $19.28.

OLO (NYSE:OLOGet Rating) last issued its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). OLO had a negative return on equity of 1.93% and a negative net margin of 28.30%. The company had revenue of $40.00 million during the quarter, compared to the consensus estimate of $39.10 million. The business’s revenue was up 31.1% on a year-over-year basis. Research analysts expect that OLO will post -0.14 EPS for the current year.

In related news, insider Marty D. Hahnfeld sold 21,836 shares of the stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $12.13, for a total transaction of $264,870.68. Following the sale, the insider now directly owns 603,340 shares of the company’s stock, valued at approximately $7,318,514.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James D. Iv Robinson sold 330,334 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $14.21, for a total transaction of $4,694,046.14. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in shares of OLO by 4.3% during the 3rd quarter. Capital Research Global Investors now owns 4,891,500 shares of the company’s stock valued at $146,892,000 after acquiring an additional 200,000 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of OLO during the 4th quarter valued at about $92,634,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of OLO by 16.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,921,039 shares of the company’s stock valued at $117,749,000 after acquiring an additional 568,035 shares during the last quarter. Invesco Ltd. lifted its stake in shares of OLO by 307.9% in the 4th quarter. Invesco Ltd. now owns 3,145,020 shares of the company’s stock worth $65,449,000 after purchasing an additional 2,373,927 shares during the period. Finally, Morgan Stanley lifted its stake in shares of OLO by 141.3% in the 3rd quarter. Morgan Stanley now owns 2,479,489 shares of the company’s stock worth $74,460,000 after purchasing an additional 1,452,006 shares during the period. 71.38% of the stock is currently owned by hedge funds and other institutional investors.

OLO Company Profile (Get Rating)

Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Order Management, an on-demand digital commerce and channel management solutions that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; and Delivery Enablement, a fulfillment network, as well as a network aggregator and channel management solution, which enables restaurants to offer, manage, and expand direct delivery, as well as allows restaurants to control and syndicate menu, pricing, location data, and availability, while directly integrating and optimizing orders from third-parties into the restaurants' point-of-sale and systems.

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