OLO (NYSE:OLO) Lowered to "Hold" Rating by Wall Street Zen

Wall Street Zen lowered shares of OLO (NYSE:OLO - Free Report) from a buy rating to a hold rating in a report issued on Friday.

Separately, Lake Street Capital lifted their price objective on OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

OLO Trading Up 1.9%

OLO stock traded up $0.16 during midday trading on Friday, hitting $8.63. 1,112,805 shares of the company's stock were exchanged, compared to its average volume of 1,258,110. OLO has a 12-month low of $4.20 and a 12-month high of $9.78. The firm has a 50 day moving average price of $7.29 and a 200-day moving average price of $7.21. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -86.29 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The company had revenue of $80.68 million for the quarter, compared to the consensus estimate of $77.47 million. During the same period in the previous year, the business earned $0.05 EPS. OLO's revenue for the quarter was up 21.3% compared to the same quarter last year. On average, sell-side analysts forecast that OLO will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On OLO

A number of institutional investors have recently made changes to their positions in the company. Nuveen LLC bought a new position in OLO during the 1st quarter worth $15,330,000. Broadwood Capital Inc. acquired a new stake in shares of OLO in the first quarter valued at $10,765,000. Driehaus Capital Management LLC acquired a new stake in shares of OLO in the fourth quarter valued at $9,691,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of OLO by 138.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock valued at $14,561,000 after buying an additional 1,100,307 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of OLO by 274.6% during the first quarter. Bank of New York Mellon Corp now owns 1,351,488 shares of the company's stock valued at $8,163,000 after purchasing an additional 990,719 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors.

About OLO

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.