OLO (NYSE:OLO) Cut to "Hold" at Truist Financial

OLO (NYSE:OLO - Get Free Report) was downgraded by investment analysts at Truist Financial from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts have also recently weighed in on OLO. Piper Sandler lifted their target price on shares of OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a research note on Monday, July 7th. Lake Street Capital cut shares of OLO from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $10.25 price target on shares of OLO in a research note on Monday, July 7th. Finally, Wall Street Zen downgraded shares of OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average target price of $10.17.

OLO Stock Down 0.2%

Shares of OLO stock traded down $0.02 during trading hours on Tuesday, hitting $10.12. 4,047,875 shares of the company's stock traded hands, compared to its average volume of 1,576,711. The stock's fifty day simple moving average is $8.89 and its two-hundred day simple moving average is $7.54. OLO has a 12-month low of $4.53 and a 12-month high of $10.15. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 506.25 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $80.68 million during 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%. The firm's quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share. On average, equities analysts forecast that OLO will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at OLO

In other OLO news, insider Sherri Manning sold 5,657 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $49,781.60. Following the transaction, the insider directly owned 297,926 shares of the company's stock, valued at $2,621,748.80. This trade represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Zuhairah Scott Washington sold 10,000 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.48, for a total transaction of $84,800.00. Following the transaction, the director owned 68,677 shares in the company, valued at $582,380.96. The trade was a 12.71% 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. 39.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OLO

A number of institutional investors and hedge funds have recently made changes to their positions in OLO. Arizona State Retirement System increased its stake in OLO by 5.1% during the 4th quarter. Arizona State Retirement System now owns 30,358 shares of the company's stock worth $233,000 after buying an additional 1,464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in OLO by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company's stock worth $457,000 after acquiring an additional 1,740 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of OLO by 1.9% in the 4th quarter. Invesco Ltd. now owns 121,611 shares of the company's stock valued at $934,000 after buying an additional 2,261 shares in the last quarter. State of Wyoming boosted its holdings in shares of OLO by 6.6% in the 1st quarter. State of Wyoming now owns 42,286 shares of the company's stock valued at $255,000 after buying an additional 2,612 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of OLO by 2.8% in the 4th quarter. California State Teachers Retirement System now owns 97,847 shares of the company's stock valued at $751,000 after buying an additional 2,666 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other 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.