OLO (NYSE:OLO) Earns Hold Rating from Analysts at StockNews.com

Posted by Defense World Staff on May 18th, 2023

Research analysts at StockNews.com began coverage on shares of OLO (NYSE:OLO – Get Rating) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

Several other analysts also recently weighed in on the company. Stifel Nicolaus decreased their price objective on OLO from $10.00 to $9.00 in a report on Wednesday, May 10th. Piper Sandler restated a “neutral” rating and issued a $9.00 price objective on shares of OLO in a report on Tuesday, March 7th. Finally, Royal Bank of Canada lifted their price objective on OLO from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.58.

OLO Trading Down 5.7 %

NYSE:OLO opened at $6.83 on Thursday. OLO has a twelve month low of $5.74 and a twelve month high of $14.08. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -23.55 and a beta of 1.20. The stock has a fifty day simple moving average of $7.50 and a 200-day simple moving average of $7.49.

OLO (NYSE:OLO – Get Rating) last released its earnings results on Wednesday, February 22nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. OLO had a negative return on equity of 4.63% and a negative net margin of 24.71%. The business had revenue of $49.78 million during the quarter, compared to the consensus estimate of $48.47 million. As a group, equities research analysts predict that OLO will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling at OLO

In other OLO news, CRO Diego Panama sold 11,826 shares of OLO stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $8.04, for a total value of $95,081.04. Following the transaction, the executive now owns 680,606 shares in the company, valued at $5,472,072.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other OLO news, CRO Diego Panama sold 11,826 shares of OLO stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $8.04, for a total value of $95,081.04. Following the transaction, the executive now owns 680,606 shares in the company, valued at $5,472,072.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Noah H. Glass sold 8,918 shares of OLO stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $7.80, for a total value of $69,560.40. Following the completion of the transaction, the chief executive officer now owns 310,880 shares in the company, valued at approximately $2,424,864. The disclosure for this sale can be found here. Insiders have sold 34,491 shares of company stock worth $271,782 over the last quarter. Insiders own 40.52% of the company’s stock.

Institutional Investors Weigh In On OLO

A number of large investors have recently modified their holdings of the business. Penn Capital Management Company LLC grew its stake in shares of OLO by 10.8% during the first quarter. Penn Capital Management Company LLC now owns 197,820 shares of the company’s stock worth $1,614,000 after acquiring an additional 19,228 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of OLO during the first quarter worth about $4,504,000. State Street Corp grew its stake in shares of OLO by 4.1% during the first quarter. State Street Corp now owns 2,117,341 shares of the company’s stock worth $17,278,000 after acquiring an additional 84,087 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of OLO by 4.9% during the first quarter. Geode Capital Management LLC now owns 1,887,866 shares of the company’s stock worth $15,405,000 after acquiring an additional 88,217 shares during the last quarter. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of OLO during the first quarter worth about $202,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

About OLO

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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.