OLO (NYSE:OLO) Price Target Increased to $9.00 by Analysts at Lake Street Capital

OLO (NYSE:OLO) had its target price lifted by Lake Street Capital from $8.50 to $9.00 in a research note published on Thursday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

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

OLO Price Performance

Shares of NYSE:OLO traded down $0.22 during midday trading on Thursday, reaching $5.03. 206,405 shares of the company’s stock were exchanged, compared to its average volume of 992,340. The stock has a market cap of $807.40 million, a price-to-earnings ratio of -18.10 and a beta of 1.26. The firm’s 50 day simple moving average is $4.56 and its two-hundred day simple moving average is $5.01. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $7.51.

OLO (NYSE:OLO) last released its 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 company had revenue of $70.50 million during the quarter, compared to the consensus estimate of $67.79 million. OLO had a negative return on equity of 0.47% and a negative net margin of 9.36%. OLO’s revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) EPS. Equities research analysts predict that OLO will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at OLO

In other OLO news, COO Joanna G. Lambert sold 6,290 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.51, for a total value of $28,367.90. Following the completion of the sale, the chief operating officer now owns 659,049 shares in the company, valued at $2,972,310.99. The sale was disclosed in a document filed with the SEC, which is available through this link. In other OLO news, COO Joanna G. Lambert sold 6,290 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.51, for a total value of $28,367.90. Following the completion of the sale, the chief operating officer now owns 659,049 shares in the company, valued at $2,972,310.99. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Diego Panama sold 9,392 shares of the business’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 $42,451.84. Following the completion of the sale, the executive now owns 583,414 shares of the company’s stock, valued at approximately $2,637,031.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,686 shares of company stock worth $362,798. 39.33% of the stock is owned by insiders.

Institutional Investors Weigh In On OLO

Large investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC raised its stake in shares of OLO by 419.6% during the first quarter. Los Angeles Capital Management LLC now owns 306,100 shares of the company’s stock worth $1,680,000 after purchasing an additional 247,194 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in OLO during the first quarter worth $1,038,000. Vanguard Group Inc. grew its holdings in OLO by 4.4% during the third quarter. Vanguard Group Inc. now owns 11,849,783 shares of the company’s stock worth $71,810,000 after acquiring an additional 495,247 shares during the period. Dimensional Fund Advisors LP grew its holdings in OLO by 13.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,411,071 shares of the company’s stock worth $19,512,000 after acquiring an additional 416,851 shares during the period. Finally, Private Advisor Group LLC grew its holdings in OLO by 109.9% during the fourth quarter. Private Advisor Group LLC now owns 60,206 shares of the company’s stock worth $344,000 after acquiring an additional 31,518 shares during the period. Hedge funds and other institutional investors own 93.40% of the company’s stock.

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.