OLO (NYSE:OLO) Shares Gap Up After Analyst Upgrade

Shares of Olo Inc. (NYSE:OLO) gapped up before the market opened on Thursday after Lake Street Capital raised their price target on the stock from $8.50 to $9.00. The stock had previously closed at $4.78, but opened at $5.85. Lake Street Capital currently has a buy rating on the stock. OLO shares last traded at $5.68, with a volume of 732,747 shares.

Separately, Piper Sandler restated an “overweight” rating and set a $8.00 price objective on shares of OLO in a research note on Thursday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, OLO presently has an average rating of “Moderate Buy” and an average target price of $8.67.

Insider Activity at OLO

In related news, CRO Diego Panama sold 40,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $4.70, for a total value of $188,000.00. Following the completion of the sale, the executive now directly owns 592,806 shares in the company, valued at approximately $2,786,188.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other OLO news, CFO Peter J. Benevides sold 10,259 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $4.52, for a total transaction of $46,370.68. Following the completion of the sale, the chief financial officer now directly owns 424,933 shares in the company, valued at $1,920,697.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Diego Panama sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $4.70, for a total transaction of $188,000.00. Following the sale, the executive now owns 592,806 shares of the company’s stock, valued at $2,786,188.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,686 shares of company stock worth $362,798. Insiders own 39.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. bought a new position in shares of OLO during the first quarter worth approximately $29,000. Rockport Wealth LLC bought a new position in OLO in the first quarter valued at approximately $55,000. Victory Capital Management Inc. increased its stake in OLO by 29.7% in the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock valued at $80,000 after acquiring an additional 3,219 shares during the last quarter. SYSTM Wealth Solutions LLC bought a new position in OLO in the first quarter valued at approximately $106,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in OLO by 18.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,178 shares of the company’s stock valued at $150,000 after acquiring an additional 3,991 shares during the last quarter. 93.40% of the stock is owned by institutional investors.

OLO Price Performance

The business’s 50 day moving average is $4.56 and its 200-day moving average is $5.01.

OLO (NYSE:OLO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $70.50 million for the quarter, compared to analysts’ expectations of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. On average, equities analysts anticipate that Olo Inc. will post -0.08 EPS for the current fiscal year.

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.