OLO (NYSE:OLO) Shares Gap Up to $4.69

Olo Inc. (NYSE:OLO)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.69, but opened at $5.15. OLO shares last traded at $4.98, with a volume of 753,638 shares.

Analyst Ratings Changes

Separately, Piper Sandler lifted their target price on shares of OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.10.

OLO Price Performance

The firm has a 50 day moving average of $5.22 and a 200-day moving average of $5.35. The stock has a market capitalization of $751.22 million, a P/E ratio of -14.14 and a beta of 1.29.

OLO (NYSE:OLO) last posted its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $66.51 million for the quarter, compared to analysts’ expectations of $64.22 million. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. As a group, equities analysts expect that Olo Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of OLO

Several hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new position in OLO during the 1st quarter worth about $29,000. Sherbrooke Park Advisers LLC acquired a new position in shares of OLO during the third quarter worth approximately $82,000. Precision Wealth Strategies LLC bought a new stake in shares of OLO during the third quarter valued at approximately $82,000. Victory Capital Management Inc. increased its holdings in shares of OLO by 29.7% in the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock valued at $80,000 after purchasing an additional 3,219 shares in the last quarter. Finally, MQS Management LLC acquired a new position in OLO during the 3rd quarter worth $86,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

About OLO

Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.