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

OLO (NYSE:OLO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reiterated a “neutral” rating and issued a $8.00 target price on shares of OLO in a research note on Wednesday, January 8th. Royal Bank of Canada lifted their price target on OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd.

OLO Stock Performance

OLO traded up $0.09 on Tuesday, reaching $6.07. 3,205,041 shares of the company’s stock were exchanged, compared to its average volume of 1,320,640. The company’s 50 day moving average is $7.22 and its 200-day moving average is $6.38. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -60.64 and a beta of 1.41. OLO has a twelve month low of $4.20 and a twelve month high of $8.35.

OLO (NYSE:OLO) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The firm had revenue of $76.07 million during the quarter, compared to analyst estimates of $72.76 million. Sell-side analysts forecast that OLO will post -0.03 EPS for the current year.

Hedge Funds Weigh In On OLO

Institutional investors and hedge funds have recently bought and sold shares of the business. Tandem Financial LLC acquired a new position in shares of OLO during the fourth quarter valued at $26,000. Global Retirement Partners LLC bought a new stake in shares of OLO in the fourth quarter worth about $27,000. SBI Securities Co. Ltd. bought a new position in shares of OLO during the fourth quarter worth about $35,000. Envestnet Asset Management Inc. bought a new position in shares of OLO during the fourth quarter worth about $80,000. Finally, Franklin Resources Inc. bought a new position in shares of OLO during the fourth quarter worth about $81,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

OLO Company Profile

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.