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.
Check Out Our Latest Stock Report on OLO
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
(
Get Free Report)
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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