OLO (NYSE:OLO) Price Target Increased to $9.00 by Analysts at Lake Street Capital

OLO (NYSE:OLO) had its price target upped by Lake Street Capital from $8.50 to $9.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Piper Sandler reaffirmed an overweight rating and set a $8.00 price objective on shares of OLO in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $8.67.

OLO Stock Performance

Shares of OLO stock traded down $0.22 during trading hours on Thursday, hitting $5.03. The company had a trading volume of 206,405 shares, compared to its average volume of 992,340. OLO has a 12 month low of $4.20 and a 12 month high of $7.51. The firm has a market capitalization of $807.40 million, a price-to-earnings ratio of -18.10 and a beta of 1.26. The firm’s fifty day moving average is $4.56 and its 200 day moving average is $5.01.

OLO (NYSE:OLO) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $70.50 million for the quarter, compared to the consensus estimate of $67.79 million. OLO had a negative return on equity of 0.47% and a negative net margin of 9.36%. OLO’s revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. On average, sell-side analysts expect that OLO will post -0.08 EPS for the current fiscal year.

Insider Activity

In related news, CRO Diego Panama sold 9,392 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.52, for a total value of $42,451.84. Following the completion of the sale, the executive now owns 583,414 shares in the company, valued at approximately $2,637,031.28. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CRO Diego Panama sold 9,392 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.52, for a total value of $42,451.84. Following the completion of the sale, the executive now owns 583,414 shares in the company, valued at approximately $2,637,031.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Peter J. Benevides sold 10,259 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.52, for a total transaction of $46,370.68. Following the completion of the sale, the chief financial officer now owns 424,933 shares of the company’s stock, valued at approximately $1,920,697.16. The disclosure for this sale can be found here. Insiders have sold a total of 78,686 shares of company stock valued at $362,798 in the last 90 days. 39.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On OLO

A number of large investors have recently added to or reduced their stakes in OLO. Vanguard Group Inc. grew its holdings in shares of OLO by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,849,783 shares of the company’s stock valued at $71,810,000 after acquiring an additional 495,247 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of OLO by 48.4% in the 4th quarter. SG Americas Securities LLC now owns 40,316 shares of the company’s stock valued at $231,000 after acquiring an additional 13,155 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in OLO by 4.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 218,005 shares of the company’s stock valued at $1,247,000 after purchasing an additional 8,750 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in OLO by 17.8% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 187,205 shares of the company’s stock valued at $1,071,000 after purchasing an additional 28,315 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in OLO by 18.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,178 shares of the company’s stock valued at $150,000 after purchasing an additional 3,991 shares during the last quarter. Institutional investors 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.