OLO (NYSE:OLO) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of OLO (NYSE:OLO – Get Rating) from a hold rating to a sell rating in a report released on Wednesday morning.

Several other equities research analysts also recently weighed in on the stock. Truist Financial reduced their price objective on shares of OLO from $45.00 to $25.00 in a report on Thursday, February 24th. Piper Sandler dropped their price target on shares of OLO from $33.00 to $20.00 and set an overweight rating on the stock in a research report on Thursday, February 24th. Finally, Zacks Investment Research upgraded shares of OLO from a sell rating to a hold rating in a research report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $31.00.

OLO stock opened at $11.77 on Wednesday. The company has a market capitalization of $1.87 billion, a P/E ratio of -65.39 and a beta of 1.45. The company has a 50-day simple moving average of $11.97 and a 200 day simple moving average of $17.81. OLO has a fifty-two week low of $8.11 and a fifty-two week high of $49.00.

OLO (NYSE:OLO – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.06. The business had revenue of $42.80 million during the quarter, compared to the consensus estimate of $41.66 million. OLO had a negative net margin of 17.52% and a negative return on equity of 3.09%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. On average, sell-side analysts expect that OLO will post -0.14 EPS for the current fiscal year.

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

Large investors have recently added to or reduced their stakes in the business. HWG Holdings LP purchased a new position in OLO during the 4th quarter valued at about $27,000. Geneos Wealth Management Inc. purchased a new position in OLO during the 4th quarter valued at about $52,000. Citigroup Inc. purchased a new position in OLO during the 3rd quarter valued at about $106,000. Legal & General Group Plc purchased a new position in OLO during the 4th quarter valued at about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in OLO during the 4th quarter valued at about $129,000. 75.26% of the stock is currently owned by institutional investors.

About OLO (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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