OLO (NYSE:OLO) Stock Rating Lowered by Truist Financial

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

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

OLO Price Performance

Shares of OLO traded up $0.02 during trading hours on Tuesday, hitting $10.14. The company's stock had a trading volume of 4,201,142 shares, compared to its average volume of 1,561,749. The business has a 50 day simple moving average of $8.78 and a two-hundred day simple moving average of $7.50. OLO has a 52-week low of $4.32 and a 52-week high of $10.15. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 253.00 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. OLO had a net margin of 1.09% and a return on equity of 1.46%. The business had revenue of $80.68 million during the quarter, compared to analyst estimates of $77.47 million. During the same period in the previous year, the business earned $0.05 EPS. OLO's revenue was up 21.3% compared to the same quarter last year. Research analysts predict that OLO will post -0.03 earnings per share for the current year.

Insider Buying and Selling at OLO

In other news, CFO Peter J. Benevides sold 23,078 shares of OLO stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $203,086.40. Following the sale, the chief financial officer owned 702,061 shares of the company's stock, valued at approximately $6,178,136.80. The trade was a 3.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Morvillo sold 10,129 shares of the firm'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 $89,135.20. Following the completion of the sale, the insider owned 386,516 shares of the company's stock, valued at $3,401,340.80. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,630 shares of company stock worth $864,454. 39.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OLO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLO. Amanah Holdings Trust bought a new position in shares of OLO during the second quarter valued at approximately $3,382,000. Voya Investment Management LLC grew its stake in shares of OLO by 66.4% in the 1st quarter. Voya Investment Management LLC now owns 56,683 shares of the company's stock worth $342,000 after buying an additional 22,616 shares during the last quarter. SCS Capital Management LLC bought a new position in OLO during the 1st quarter valued at approximately $146,000. Caxton Associates LLP purchased a new position in OLO during the first quarter valued at $363,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in OLO by 13.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,071 shares of the company's stock worth $151,000 after acquiring an additional 2,922 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other 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.