Brokerages Set Olo Inc. (NYSE:OLO) Price Target at $9.10

Olo Inc. (NYSE:OLO) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.10.

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

OLO Stock Up 3.3 %

OLO stock opened at $5.00 on Friday. OLO has a 52 week low of $4.25 and a 52 week high of $8.84. The firm has a 50-day simple moving average of $5.38 and a 200-day simple moving average of $5.39. The stock has a market capitalization of $809.50 million, a P/E ratio of -13.89 and a beta of 1.28.

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

Hedge Funds Weigh In On OLO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co lifted its holdings in OLO by 8.8% in the first quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock valued at $155,000 after acquiring an additional 2,285 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of OLO by 29.7% during the 4th quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock worth $80,000 after purchasing an additional 3,219 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of OLO by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock worth $218,000 after purchasing an additional 3,340 shares during the last quarter. Portside Wealth Group LLC raised its holdings in OLO by 9.2% in the 4th quarter. Portside Wealth Group LLC now owns 41,014 shares of the company’s stock valued at $235,000 after buying an additional 3,467 shares during the period. Finally, Swiss National Bank lifted its position in OLO by 1.6% in the third quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $1,322,000 after buying an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

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.