OLO (NYSE:OLO) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of OLO (NYSE:OLO) from a buy rating to a hold rating in a research report released on Wednesday morning.

Other equities analysts also recently issued research reports about the stock. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 price target on shares of OLO in a research note on Wednesday, January 8th. Royal Bank of Canada increased their price target on shares of OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd.

OLO Stock Performance

Shares of OLO opened at $6.32 on Wednesday. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -63.14 and a beta of 1.41. The company’s 50 day simple moving average is $7.03 and its 200 day simple moving average is $6.42. OLO has a 1 year low of $4.20 and a 1 year high of $8.35.

OLO (NYSE:OLO) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $76.07 million for the quarter, compared to analysts’ expectations of $72.76 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. Equities analysts expect that OLO will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On OLO

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of OLO by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 14,689,381 shares of the company’s stock valued at $112,814,000 after acquiring an additional 415,868 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of OLO by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,491,755 shares of the company’s stock valued at $26,817,000 after acquiring an additional 206,538 shares during the period. Geode Capital Management LLC raised its stake in shares of OLO by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,466,289 shares of the company’s stock valued at $18,945,000 after acquiring an additional 21,484 shares during the period. Nuveen Asset Management LLC raised its stake in shares of OLO by 48.5% in the 4th quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company’s stock valued at $17,827,000 after acquiring an additional 757,617 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of OLO by 44.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company’s stock valued at $15,611,000 after acquiring an additional 622,106 shares during the period. Hedge funds and other institutional investors own 93.40% of the company’s stock.

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.