OLO (NYSE:OLO) Stock Rating Lowered by StockNews.com

OLO (NYSE:OLO) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other analysts have also commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 price target on shares of OLO in a research report on Wednesday, January 8th. Royal Bank of Canada lifted their price target 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.

OLO Price Performance

Shares of OLO stock opened at $6.37 on Wednesday. The stock has a market cap of $1.06 billion, a P/E ratio of -63.64 and a beta of 1.41. The stock’s 50 day simple moving average is $7.00 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 released its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 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%. As a group, research analysts expect that OLO will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tandem Financial LLC acquired a new position in OLO during the fourth quarter worth $26,000. Global Retirement Partners LLC acquired a new position in OLO during the fourth quarter worth $27,000. SBI Securities Co. Ltd. acquired a new position in OLO during the fourth quarter worth $35,000. Envestnet Asset Management Inc. acquired a new position in OLO during the fourth quarter worth $80,000. Finally, Franklin Resources Inc. acquired a new position in OLO during the fourth quarter worth $81,000. 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.