OLO (NYSE:OLO) Downgraded by StockNews.com to Sell

StockNews.com cut shares of OLO (NYSE:OLOGet Rating) from a hold rating to a sell rating in a report issued on Thursday.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada decreased their target price on OLO from $17.00 to $12.00 in a research report on Friday, August 12th. Piper Sandler cut OLO from an overweight rating to a neutral rating and decreased their target price for the stock from $13.00 to $9.00 in a research report on Friday, August 12th. JPMorgan Chase & Co. decreased their target price on OLO from $26.00 to $21.00 in a research report on Friday, June 17th. Stifel Nicolaus cut OLO from a buy rating to a hold rating and reduced their price objective for the company from $12.00 to $9.00 in a research report on Friday, August 12th. Finally, Truist Financial reduced their price objective on OLO from $25.00 to $16.00 and set a buy rating for the company in a research report on Friday, August 12th. One 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. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $13.40.

OLO Stock Performance

Shares of NYSE OLO opened at $7.70 on Thursday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -33.48 and a beta of 1.41. The business has a 50 day simple moving average of $9.52 and a 200 day simple moving average of $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 firm had revenue of $45.60 million during the quarter, compared to analysts’ expectations of $45.83 million. OLO had a negative return on equity of 3.99% and a negative net margin of 22.06%. The company’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, analysts predict that OLO will post -0.21 EPS for the current year.

Insider Activity at OLO

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OLO. Invesco Ltd. raised its stake in OLO by 307.9% during the fourth quarter. Invesco Ltd. now owns 3,145,020 shares of the company’s stock worth $65,449,000 after acquiring an additional 2,373,927 shares in the last quarter. Wellington Management Group LLP raised its stake in OLO by 25.9% during the first quarter. Wellington Management Group LLP now owns 9,600,149 shares of the company’s stock worth $127,203,000 after acquiring an additional 1,975,221 shares in the last quarter. Vanguard Group Inc. raised its stake in OLO by 35.4% during the first quarter. Vanguard Group Inc. now owns 6,494,140 shares of the company’s stock worth $86,048,000 after acquiring an additional 1,696,613 shares in the last quarter. Nine Ten Capital Management LLC raised its stake in OLO by 71.2% during the first quarter. Nine Ten Capital Management LLC now owns 3,948,690 shares of the company’s stock worth $52,320,000 after acquiring an additional 1,641,735 shares in the last quarter. Finally, Bares Capital Management Inc. raised its stake in OLO by 278.8% during the second quarter. Bares Capital Management Inc. now owns 2,111,212 shares of the company’s stock worth $20,838,000 after acquiring an additional 1,553,912 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

OLO Company Profile

(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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