Zacks Investment Management Raises Position in Olo Inc. (NYSE:OLO)

Zacks Investment Management increased its position in shares of Olo Inc. (NYSE:OLO - Free Report) by 276.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 310,940 shares of the company's stock after acquiring an additional 228,241 shares during the period. Zacks Investment Management owned about 0.19% of OLO worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Tandem Financial LLC bought a new position in shares of OLO in the 4th quarter valued at $26,000. Global Retirement Partners LLC acquired a new position in shares of OLO during the fourth quarter worth $27,000. SBI Securities Co. Ltd. bought a new position in shares of OLO during the fourth quarter worth about $35,000. Envestnet Asset Management Inc. acquired a new position in shares of OLO in the fourth quarter worth approximately $80,000. Finally, Franklin Resources Inc. bought a new stake in OLO in the fourth quarter valued at approximately $81,000. 93.40% of the stock is owned by institutional investors.

OLO Stock Up 1.0 %

NYSE:OLO traded up $0.06 during trading hours on Wednesday, hitting $6.08. 427,025 shares of the company traded hands, compared to its average volume of 1,170,290. The firm's 50-day simple moving average is $6.37 and its 200-day simple moving average is $6.62. The company has a market cap of $1.01 billion, a PE ratio of -60.79 and a beta of 1.42. Olo Inc. has a one year low of $4.20 and a one year high of $8.35.

OLO (NYSE:OLO - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. As a group, equities research analysts expect that Olo Inc. will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OLO shares. StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Piper Sandler reaffirmed a "neutral" rating and set a $8.00 target price on shares of OLO in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada raised their price objective on shares of OLO from $8.00 to $9.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd.

OLO Profile

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.