Olo Inc. (NYSE:OLO) Given Average Rating of “Moderate Buy” by Brokerages

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

A number of equities analysts have issued reports on OLO shares. Lake Street Capital started coverage on shares of OLO in a research report on Friday, December 15th. They set a “buy” rating and a $7.50 price target for the company. Piper Sandler upped their target price on OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd.

OLO Stock Performance

Shares of NYSE OLO opened at $5.49 on Wednesday. OLO has a fifty-two week low of $4.25 and a fifty-two week high of $8.84. The company has a market cap of $888.83 million, a PE ratio of -15.25 and a beta of 1.29. The business has a 50-day simple moving average of $5.57 and a two-hundred day simple moving average of $5.52.

OLO (NYSE:OLO) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The business had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $58.91 million. During the same quarter last year, the company posted ($0.03) earnings per share. The business’s quarterly revenue was up 26.5% on a year-over-year basis. On average, sell-side analysts predict that OLO will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of OLO

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. lifted its position in shares of OLO by 43.6% during the first quarter. Advisor Group Holdings Inc. now owns 13,657 shares of the company’s stock worth $182,000 after purchasing an additional 4,144 shares in the last quarter. JPMorgan Chase & Co. boosted its position in OLO by 50.1% in the 1st quarter. JPMorgan Chase & Co. now owns 499,588 shares of the company’s stock valued at $6,619,000 after buying an additional 166,839 shares during the period. Bank of New York Mellon Corp grew its stake in shares of OLO by 2,469.3% in the first quarter. Bank of New York Mellon Corp now owns 713,763 shares of the company’s stock worth $9,458,000 after acquiring an additional 685,983 shares in the last quarter. HighTower Advisors LLC increased its position in shares of OLO by 12.3% during the first quarter. HighTower Advisors LLC now owns 16,036 shares of the company’s stock worth $213,000 after acquiring an additional 1,758 shares during the period. Finally, Citigroup Inc. raised its stake in shares of OLO by 130.0% in the first quarter. Citigroup Inc. now owns 12,328 shares of the company’s stock valued at $163,000 after acquiring an additional 6,969 shares in the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

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.