OLO (NYSE:OLO) Posts Earnings Results, Meets Expectations

OLO (NYSE:OLO) announced its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05, Briefing.com reports. OLO had a negative return on equity of 2.96% and a negative net margin of 25.53%. The business had revenue of $66.51 million for the quarter, compared to the consensus estimate of $64.22 million. During the same quarter last year, the business posted ($0.06) EPS. The business’s revenue was up 27.3% on a year-over-year basis.

OLO Trading Down 1.3 %

OLO stock traded down $0.06 during trading on Wednesday, hitting $4.63. The company had a trading volume of 1,742,080 shares, compared to its average volume of 954,159. The firm has a market capitalization of $749.60 million, a price-to-earnings ratio of -14.14 and a beta of 1.29. The business has a 50 day moving average of $5.22 and a 200 day moving average of $5.35. OLO has a fifty-two week low of $4.25 and a fifty-two week high of $8.84.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upped their price target 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.10.

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.