OLO (NYSE:OLO) Earns Overweight Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of OLO (NYSE:OLO) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

OLO Stock Down 4.8 %

OLO stock traded down $0.25 during trading hours on Thursday, hitting $5.00. The stock had a trading volume of 684,013 shares, compared to its average volume of 995,545. The stock’s 50-day moving average price is $4.56 and its 200-day moving average price is $5.01. The stock has a market capitalization of $802.59 million, a P/E ratio of -18.10 and a beta of 1.26. OLO has a 12-month low of $4.20 and a 12-month high of $7.51.

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

Insider Buying and Selling at OLO

In related news, CRO Diego Panama sold 9,392 shares of OLO stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.52, for a total value of $42,451.84. Following the completion of the transaction, the executive now owns 583,414 shares in the company, valued at $2,637,031.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CRO Diego Panama sold 9,392 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.52, for a total value of $42,451.84. Following the completion of the sale, the executive now directly owns 583,414 shares in the company, valued at $2,637,031.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Noah H. Glass sold 10,155 shares of the company’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 value of $45,900.60. Following the transaction, the chief executive officer now directly owns 322,816 shares in the company, valued at approximately $1,459,128.32. The disclosure for this sale can be found here. Insiders sold 78,686 shares of company stock worth $362,798 in the last quarter. 39.33% of the stock is owned by corporate insiders.

Institutional Trading of OLO

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of OLO by 3.3% during the second quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock worth $680,000 after acquiring an additional 4,979 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of OLO by 30.6% in the second quarter. Conestoga Capital Advisors LLC now owns 310,310 shares of the company’s stock worth $1,372,000 after buying an additional 72,685 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of OLO during the second quarter worth $249,000. Bayesian Capital Management LP purchased a new stake in shares of OLO during the first quarter valued at $188,000. Finally, Silvercrest Asset Management Group LLC increased its position in shares of OLO by 3.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company’s stock valued at $4,815,000 after acquiring an additional 26,919 shares during the period. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Company Profile

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.