OLO (NYSE:OLO) Sees Strong Trading Volume After Analyst Upgrade

Olo Inc. (NYSE:OLO - Get Free Report) shares saw unusually-strong trading volume on Monday after Piper Sandler raised their price target on the stock from $8.00 to $10.25. Piper Sandler currently has a neutral rating on the stock. Approximately 1,989,763 shares changed hands during mid-day trading, an increase of 34% from the previous session's volume of 1,489,285 shares.The stock last traded at $10.12 and had previously closed at $10.12.

Several other equities research analysts have also commented on OLO. Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $10.25 target price on shares of OLO in a report on Monday. Finally, Lake Street Capital lifted 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.

Insider Activity at OLO

In other OLO news, CEO Noah H. Glass sold 10,152 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 value of $89,337.60. Following the sale, the chief executive officer owned 278,202 shares of the company's stock, valued at approximately $2,448,177.60. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Morvillo sold 10,129 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction 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. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,630 shares of company stock valued at $864,454 in the last 90 days. 39.33% of the stock is currently owned by company insiders.

Institutional Trading of OLO

Several hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in OLO in the 4th quarter worth approximately $35,000. SMI Advisory Services LLC purchased a new stake in shares of OLO during the first quarter worth $62,000. Calamos Advisors LLC bought a new position in shares of OLO in the first quarter worth $63,000. Corton Capital Inc. bought a new position in shares of OLO in the first quarter worth $66,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of OLO in the fourth quarter valued at $80,000. 93.40% of the stock is currently owned by institutional investors.

OLO Trading Up 0.2%

The business has a fifty day moving average of $8.55 and a 200-day moving average of $7.45. The firm has a market cap of $1.68 billion, a PE ratio of 253.00 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 (EPS) for the quarter, topping 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 firm had revenue of $80.68 million for the quarter, compared to the consensus estimate of $77.47 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The company's revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts forecast that Olo Inc. will post -0.03 EPS for the current year.

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.