OLO (NYSE:OLO) Downgraded to “Hold” Rating by StockNews.com

OLO (NYSE:OLO) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other analysts also recently weighed in on OLO. Piper Sandler reiterated a “neutral” rating and issued a $8.00 price objective on shares of OLO in a research report on Wednesday, January 8th. Royal Bank of Canada upped their target price on OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, January 3rd.

OLO Stock Performance

Shares of OLO stock opened at $6.27 on Wednesday. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $8.35. The stock has a 50 day moving average price of $7.05 and a two-hundred day moving average price of $6.42. The company has a market capitalization of $1.04 billion, a P/E ratio of -62.67 and a beta of 1.41.

OLO (NYSE:OLO) last announced 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 negative net margin of 5.89% and a positive return on equity of 0.34%. The company had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. As a group, equities analysts predict that OLO will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On OLO

A number of hedge funds and other institutional investors have recently made changes to their positions in OLO. Tandem Financial LLC bought a new position in shares of OLO during the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC purchased a new stake in OLO in the fourth quarter worth $27,000. SBI Securities Co. Ltd. purchased a new stake in OLO in the fourth quarter worth $35,000. Point72 Asset Management L.P. purchased a new stake in OLO in the third quarter worth $74,000. Finally, Envestnet Asset Management Inc. purchased a new stake in OLO in the fourth quarter worth $80,000. Institutional investors own 93.40% of the company’s stock.

About OLO

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.