OLO (NYSE:OLO) Cut to Hold at StockNews.com

StockNews.com downgraded shares of OLO (NYSE:OLO) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

OLO has been the topic of a number of other research reports. Royal Bank of Canada raised their target price on shares of OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of OLO in a research report on Wednesday, January 8th.

OLO Trading Up 1.5 %

OLO stock opened at $6.45 on Wednesday. OLO has a 12-month low of $4.20 and a 12-month high of $8.35. The firm has a 50-day moving average price of $6.99 and a 200-day moving average price of $6.42. The firm has a market capitalization of $1.07 billion, a PE ratio of -64.44 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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $72.76 million. As a group, sell-side analysts predict that OLO will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of OLO

A number of institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System lifted its stake in OLO by 5.1% during the 4th quarter. Arizona State Retirement System now owns 30,358 shares of the company’s stock valued at $233,000 after acquiring an additional 1,464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in OLO by 3.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company’s stock worth $457,000 after acquiring an additional 1,740 shares in the last quarter. Invesco Ltd. increased its holdings in OLO by 1.9% in the 4th quarter. Invesco Ltd. now owns 121,611 shares of the company’s stock worth $934,000 after acquiring an additional 2,261 shares in the last quarter. California State Teachers Retirement System increased its holdings in OLO by 2.8% in the 4th quarter. California State Teachers Retirement System now owns 97,847 shares of the company’s stock worth $751,000 after acquiring an additional 2,666 shares in the last quarter. Finally, Tandem Financial LLC purchased a new stake in OLO in the 4th quarter worth $26,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

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.