OLO (NYSE:OLO) Upgraded by StockNews.com to “Buy” Rating

OLO (NYSE:OLO) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

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

OLO Trading Up 3.9 %

Shares of OLO stock opened at $6.32 on Tuesday. OLO has a twelve month low of $4.20 and a twelve month high of $8.35. The stock has a market cap of $1.05 billion, a P/E ratio of -63.16 and a beta of 1.41. The stock has a 50 day moving average of $7.19 and a 200 day moving average of $6.38.

OLO (NYSE:OLO) last posted its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $76.07 million for the quarter, compared to analyst estimates of $72.76 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. On average, research analysts predict that OLO will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OLO

Large investors have recently added to or reduced their stakes in the business. Creative Planning boosted its holdings in OLO by 15.1% in the third quarter. Creative Planning now owns 30,371 shares of the company’s stock valued at $151,000 after purchasing an additional 3,974 shares during the period. Aigen Investment Management LP acquired a new stake in OLO in the 3rd quarter valued at about $132,000. MQS Management LLC boosted its stake in shares of OLO by 15.9% in the 3rd quarter. MQS Management LLC now owns 28,363 shares of the company’s stock valued at $141,000 after buying an additional 3,898 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of OLO by 52.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock valued at $6,996,000 after buying an additional 487,919 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of OLO during the third quarter worth approximately $100,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Company Profile

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.