OLO (NYSE:OLO) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of OLO (NYSE:OLO) from a hold rating to a buy rating in a report issued on Wednesday.

OLO has been the topic of a number of other research reports. Lake Street Capital boosted their target price on shares of OLO from $8.50 to $9.00 and gave the company a buy rating in a report on Thursday, August 1st. Piper Sandler reiterated an overweight rating and issued a $8.00 price target on shares of OLO in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $8.67.

OLO Trading Up 1.9 %

Shares of OLO stock opened at $4.81 on Wednesday. OLO has a 12 month low of $4.20 and a 12 month high of $6.84. The stock has a market cap of $772.09 million, a PE ratio of -16.59 and a beta of 1.28. The company’s fifty day moving average price is $4.99 and its 200-day moving average price is $4.93.

OLO (NYSE:OLO) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. The firm had revenue of $70.50 million for the quarter, compared to analysts’ expectations of $67.79 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The company’s quarterly revenue was up 27.6% on a year-over-year basis. On average, sell-side analysts forecast that OLO will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CRO Diego Panama sold 13,555 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the transaction, the executive now owns 569,859 shares in the company, valued at approximately $2,792,309.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other OLO news, COO Joanna G. Lambert sold 67,403 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $330,274.70. Following the completion of the transaction, the chief operating officer now owns 591,646 shares of the company’s stock, valued at approximately $2,899,065.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Diego Panama sold 13,555 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $66,419.50. Following the completion of the transaction, the executive now directly owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. The disclosure for this sale can be found here. Insiders have sold a total of 113,148 shares of company stock worth $554,425 in the last quarter. Corporate insiders own 39.33% of the company’s stock.

Hedge Funds Weigh In On OLO

A number of hedge funds have recently bought and sold shares of the business. Wallace Advisory Group LLC purchased a new stake in shares of OLO during the 2nd quarter valued at about $57,000. Clearline Capital LP increased its position in shares of OLO by 325.8% during the 2nd quarter. Clearline Capital LP now owns 169,737 shares of the company’s stock valued at $750,000 after purchasing an additional 129,874 shares during the last quarter. Algert Global LLC increased its position in shares of OLO by 114.0% during the 2nd quarter. Algert Global LLC now owns 710,319 shares of the company’s stock valued at $3,140,000 after purchasing an additional 378,368 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its position in shares of OLO by 7.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 202,798 shares of the company’s stock valued at $896,000 after purchasing an additional 13,747 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of OLO by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock valued at $186,000 after purchasing an additional 2,433 shares during the last quarter. Hedge funds and other institutional investors 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.