Olo Inc. (NYSE:OLO - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 4,181,606 shares changed hands during trading, an increase of 75% from the previous session's volume of 2,390,805 shares.The stock last traded at $10.22 and had previously closed at $10.20.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Piper Sandler raised their price objective on OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a report on Monday, July 7th. Wall Street Zen lowered OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Truist Financial lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Royal Bank Of Canada reissued a "sector perform" rating and set a $10.25 price target on shares of OLO in a research report on Monday, July 7th. Finally, Lake Street Capital lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, OLO presently has a consensus rating of "Hold" and an average target price of $10.17.
Check Out Our Latest Report on OLO
OLO Stock Up 0.0%
The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 146.14 and a beta of 1.58. The stock has a 50-day moving average price of $9.81 and a 200 day moving average price of $8.09.
OLO (NYSE:OLO - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The business had revenue of $85.72 million during the quarter, compared to analyst estimates of $82.23 million. OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The business's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. As a group, equities analysts forecast that Olo Inc. will post -0.03 earnings per share for the current fiscal year.
Insider Transactions at OLO
In related news, Director Zuhairah Scott Washington sold 10,000 shares of OLO 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 completion of the sale, the director owned 68,677 shares in the company, valued at approximately $582,380.96. This trade represents a 12.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Morvillo sold 10,129 shares of OLO stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $8.80, for a total value of $89,135.20. Following the sale, the insider owned 386,516 shares of the company's stock, valued at approximately $3,401,340.80. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,630 shares of company stock valued at $925,654 in the last three months. Insiders own 38.41% of the company's stock.
Hedge Funds Weigh In On OLO
Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in OLO during the 4th quarter worth approximately $2,346,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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. Ameriprise Financial Inc. lifted its position in OLO by 2.0% during the 4th quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company's stock worth $5,167,000 after acquiring an additional 13,387 shares in the last quarter. ProShare Advisors LLC raised its position in shares of OLO by 49.0% in 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. Finally, Northern Trust Corp raised its position in shares of OLO by 8.0% in the 4th quarter. Northern Trust Corp now owns 1,016,295 shares of the company's stock valued at $7,805,000 after purchasing an additional 75,307 shares in the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.
About OLO
(
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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.
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