OLO (NYSE:OLO) Receives Sector Perform Rating from Royal Bank Of Canada

OLO (NYSE:OLO - Get Free Report)'s stock had its "sector perform" rating restated by equities researchers at Royal Bank Of Canada in a research note issued on Monday, Marketbeat.com reports. They currently have a $10.25 target price on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 1.08% from the stock's previous close.

OLO has been the subject of a number of other research reports. Wall Street Zen downgraded shares of OLO from a "buy" rating to a "hold" rating in a research note on Saturday. Lake Street Capital increased their price target on OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

OLO Stock Up 0.2%

OLO stock traded up $0.02 during trading hours on Monday, hitting $10.14. The stock had a trading volume of 9,000,889 shares, compared to its average volume of 1,515,748. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 507.25 and a beta of 1.57. OLO has a one year low of $4.20 and a one year high of $10.14. The business's 50 day simple moving average is $8.55 and its 200-day simple moving average is $7.45.

OLO (NYSE:OLO - Get Free Report) last issued 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. OLO had a return on equity of 1.46% and a net margin of 1.09%. The company had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The business's quarterly revenue was up 21.3% on a year-over-year basis. Research analysts anticipate that OLO will post -0.03 EPS for the current fiscal year.

Insider Transactions at OLO

In other news, COO Joanna G. Lambert sold 38,614 shares of OLO stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $339,803.20. Following the completion of the sale, the chief operating officer owned 925,146 shares in the company, valued at $8,141,284.80. The trade was a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Zuhairah Scott Washington sold 10,000 shares of OLO stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.48, for a total transaction of $84,800.00. Following the completion of the sale, the director owned 68,677 shares of the company's stock, valued at $582,380.96. This represents a 12.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,630 shares of company stock valued at $864,454. 39.33% of the stock is owned by insiders.

Institutional Trading of OLO

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in OLO during the 4th quarter valued at $2,346,000. Norges Bank bought a new stake in OLO during the 4th quarter valued at $5,181,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $457,000 after purchasing an additional 1,740 shares in the last quarter. Ameriprise Financial Inc. increased its stake in OLO by 2.0% during the 4th quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company's stock valued at $5,167,000 after purchasing an additional 13,387 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in OLO by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 29,504 shares of the company's stock valued at $227,000 after purchasing an additional 9,709 shares in the last quarter. Institutional investors own 93.40% of the company's stock.

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.