OLO (NYSE:OLO) Raised to “Buy” at StockNews.com

OLO (NYSE:OLO) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other research analysts have also commented on the company. 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 report on Friday, January 3rd. Piper Sandler reiterated a “neutral” rating and issued a $8.00 target price on shares of OLO in a report on Wednesday, January 8th.

OLO Stock Performance

Shares of OLO stock opened at $6.32 on Tuesday. OLO has a 52-week low of $4.20 and a 52-week high of $8.35. The company’s 50 day moving average price is $7.19 and its 200-day moving average price is $6.38. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -63.16 and a beta of 1.41.

OLO (NYSE:OLO) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The business had revenue of $76.07 million during the quarter, compared to analysts’ expectations of $72.76 million. As a group, equities research analysts forecast that OLO will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Creative Planning grew its holdings in shares of OLO by 15.1% during the third quarter. Creative Planning now owns 30,371 shares of the company’s stock valued at $151,000 after buying an additional 3,974 shares during the last quarter. Aigen Investment Management LP acquired a new stake in OLO during the 3rd quarter worth about $132,000. MQS Management LLC lifted its position in OLO by 15.9% during the 3rd quarter. MQS Management LLC now owns 28,363 shares of the company’s stock worth $141,000 after acquiring an additional 3,898 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of OLO by 52.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock valued at $6,996,000 after purchasing an additional 487,919 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of OLO in the third quarter valued at about $100,000. Institutional investors 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.