Royal Bank Of Canada Reiterates Sector Perform Rating for OLO (NYSE:OLO)

OLO (NYSE:OLO - Get Free Report)'s stock had its "sector perform" rating reiterated by stock analysts at Royal Bank Of Canada in a report released on Monday, MarketBeat reports. They presently have a $10.25 price target on the stock. Royal Bank Of Canada's target price suggests a potential upside of 1.13% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. Wall Street Zen cut shares of OLO from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Lake Street Capital lifted their target price on shares of OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.17.

OLO Stock Up 0.1%

OLO stock traded up $0.02 during trading on Monday, reaching $10.14. The stock had a trading volume of 4,201,142 shares, compared to its average volume of 1,558,040. OLO has a one year low of $4.20 and a one year high of $10.15. The company's 50 day moving average is $8.78 and its two-hundred day moving average is $7.50. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 507.00 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $80.68 million during the quarter, compared to analyst estimates of $77.47 million. OLO had a return on equity of 1.46% and a net margin of 1.09%. OLO's revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 earnings per share. As a group, research analysts predict that OLO will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Noah H. Glass sold 10,152 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $89,337.60. Following the completion of the transaction, the chief executive officer owned 278,202 shares in the company, valued at approximately $2,448,177.60. This represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter J. Benevides sold 23,078 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $203,086.40. Following the transaction, the chief financial officer owned 702,061 shares of the company's stock, valued at approximately $6,178,136.80. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,630 shares of company stock valued at $864,454 over the last three months. Corporate insiders own 39.33% of the company's stock.

Hedge Funds Weigh In On OLO

Several institutional investors have recently bought and sold shares of the business. Amanah Holdings Trust bought a new position in OLO during the second quarter valued at $3,382,000. Voya Investment Management LLC lifted its position in OLO by 66.4% during the first quarter. Voya Investment Management LLC now owns 56,683 shares of the company's stock valued at $342,000 after purchasing an additional 22,616 shares during the last quarter. SCS Capital Management LLC bought a new position in OLO during the first quarter valued at $146,000. Caxton Associates LLP bought a new position in OLO during the first quarter valued at $363,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in OLO by 13.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,071 shares of the company's stock valued at $151,000 after purchasing an additional 2,922 shares during the last quarter. Institutional investors own 93.40% of the company's stock.

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.