OLO (NYSE:OLO) Shares Gap Up to $4.69

Shares of Olo Inc. (NYSE:OLO) gapped up before the market opened on Wednesday . The stock had previously closed at $4.69, but opened at $5.15. OLO shares last traded at $4.98, with a volume of 753,638 shares.

Analyst Ratings Changes

Separately, Piper Sandler upped their target price on shares of OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.10.

OLO Price Performance

The firm has a market capitalization of $769.03 million, a P/E ratio of -13.19 and a beta of 1.29. The stock’s 50 day moving average is $5.20 and its two-hundred day moving average is $5.34.

OLO (NYSE:OLO) last issued its earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The firm had revenue of $66.51 million during the quarter, compared to the consensus estimate of $64.22 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The business’s quarterly revenue was up 27.3% on a year-over-year basis. As a group, equities research analysts expect that Olo Inc. will post -0.1 EPS for the current year.

Institutional Investors Weigh In On OLO

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in OLO by 4.4% during the third quarter. Vanguard Group Inc. now owns 11,849,783 shares of the company’s stock worth $71,810,000 after purchasing an additional 495,247 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in OLO by 13.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,411,071 shares of the company’s stock worth $19,512,000 after purchasing an additional 416,851 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in OLO by 9.1% during the third quarter. Bank of New York Mellon Corp now owns 1,729,180 shares of the company’s stock worth $10,479,000 after purchasing an additional 144,759 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in OLO by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 844,471 shares of the company’s stock worth $4,830,000 after purchasing an additional 23,067 shares during the last quarter. Finally, CenterBook Partners LP boosted its holdings in OLO by 64.3% during the fourth quarter. CenterBook Partners LP now owns 766,564 shares of the company’s stock worth $4,385,000 after purchasing an additional 300,041 shares during the last quarter. Institutional investors own 93.40% of the company’s stock.

About OLO

Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.