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

OLO (NYSE:OLOGet Rating) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target on OLO from $26.00 to $21.00 in a report on Friday, June 17th. Piper Sandler downgraded OLO from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $13.00 to $9.00 in a report on Friday, August 12th. Royal Bank of Canada decreased their price target on OLO from $17.00 to $12.00 in a report on Friday, August 12th. Truist Financial decreased their price target on OLO from $25.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 12th. Finally, Stifel Nicolaus downgraded OLO from a “buy” rating to a “hold” rating and decreased their price target for the stock from $12.00 to $9.00 in a report on Friday, August 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.40.

OLO Price Performance

Shares of OLO traded down $0.38 during mid-day trading on Thursday, reaching $7.70. 897,182 shares of the company’s stock were exchanged, compared to its average volume of 1,636,897. The stock has a market capitalization of $1.22 billion, a PE ratio of -33.48 and a beta of 1.41. The business’s fifty day simple moving average is $9.52 and its 200-day simple moving average is $10.67. OLO has a 52-week low of $7.16 and a 52-week high of $34.56.

OLO (NYSE:OLOGet Rating) last announced its earnings results on Thursday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $45.60 million for the quarter, compared to analyst estimates of $45.83 million. OLO had a negative net margin of 22.06% and a negative return on equity of 3.99%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. Equities research analysts predict that OLO will post -0.21 earnings per share for the current year.

Insider Buying and Selling at OLO

In other OLO news, Director Daniel Harris Meyer bought 32,500 shares of OLO stock in a transaction on Thursday, August 18th. The stock was bought at an average price of $7.62 per share, with a total value of $247,650.00. Following the completion of the acquisition, the director now owns 470,275 shares in the company, valued at $3,583,495.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Marty D. Hahnfeld sold 21,836 shares of OLO stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $10.53, for a total transaction of $229,933.08. Following the completion of the transaction, the insider now owns 603,292 shares of the company’s stock, valued at approximately $6,352,664.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Harris Meyer purchased 32,500 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were purchased at an average cost of $7.62 per share, with a total value of $247,650.00. Following the purchase, the director now directly owns 470,275 shares in the company, valued at $3,583,495.50. The disclosure for this purchase can be found here. 40.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OLO. Northern Trust Corp increased its position in OLO by 141.3% during the 4th quarter. Northern Trust Corp now owns 118,308 shares of the company’s stock worth $2,462,000 after purchasing an additional 69,282 shares in the last quarter. HighTower Advisors LLC increased its position in OLO by 34.4% during the 4th quarter. HighTower Advisors LLC now owns 14,278 shares of the company’s stock worth $296,000 after purchasing an additional 3,658 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in OLO during the 4th quarter worth about $22,606,000. Invesco Ltd. increased its position in OLO by 307.9% during the 4th quarter. Invesco Ltd. now owns 3,145,020 shares of the company’s stock worth $65,449,000 after purchasing an additional 2,373,927 shares in the last quarter. Finally, LMR Partners LLP purchased a new stake in OLO during the 4th quarter worth about $943,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

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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