OLO (NYSE:OLO) Downgraded to Hold Rating by Truist Financial

OLO (NYSE:OLO - Get Free Report) was downgraded by equities researchers at Truist Financial from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

OLO has been the topic of a number of other research reports. Lake Street Capital downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $10.25 price target on shares of OLO in a research note on Monday, July 7th. Wall Street Zen cut shares of OLO from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Piper Sandler boosted their price objective on shares of OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a research report on Monday, July 7th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $10.17.

OLO Price Performance

Shares of OLO stock traded down $0.02 during mid-day trading on Tuesday, hitting $10.12. The company had a trading volume of 4,047,875 shares, compared to its average volume of 1,573,937. OLO has a 52-week low of $4.45 and a 52-week high of $10.15. The stock's 50 day moving average price is $8.89 and its 200-day moving average price is $7.54. The company has a market capitalization of $1.68 billion, a P/E ratio of 506.25 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $80.68 million for the quarter, compared to the consensus estimate of $77.47 million. OLO had a net margin of 1.09% and a return on equity of 1.46%. OLO's revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, equities research analysts expect that OLO will post -0.03 earnings per share for the current year.

Insider Buying and Selling at OLO

In other news, COO Joanna G. Lambert sold 38,614 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $339,803.20. Following the transaction, the chief operating officer directly owned 925,146 shares in the company, valued at approximately $8,141,284.80. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Peter J. Benevides sold 23,078 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $203,086.40. Following the completion of the transaction, the chief financial officer owned 702,061 shares in the company, valued at approximately $6,178,136.80. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,630 shares of company stock valued at $864,454. Insiders own 39.33% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. bought a new position in shares of OLO in the fourth quarter worth about $80,000. Calamos Advisors LLC bought a new position in shares of OLO in the first quarter worth about $63,000. SMI Advisory Services LLC bought a new position in shares of OLO in the first quarter worth about $62,000. Franklin Resources Inc. bought a new position in shares of OLO in the fourth quarter worth about $81,000. Finally, Corton Capital Inc. bought a new position in shares of OLO in the first quarter worth about $66,000. 93.40% of the stock is currently owned by institutional investors.

OLO Company Profile

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.