OLO (NYSE:OLO) Downgraded to “Hold” Rating by StockNews.com

OLO (NYSE:OLO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other equities analysts have also commented on OLO. Piper Sandler reissued a “neutral” rating and issued a $8.00 target price on shares of OLO in a report on Wednesday, January 8th. Royal Bank of Canada raised their price objective on OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd.

OLO Price Performance

NYSE:OLO opened at $6.37 on Wednesday. The firm has a market capitalization of $1.06 billion, a PE ratio of -63.64 and a beta of 1.41. The business’s fifty day moving average price is $7.00 and its 200 day moving average price is $6.42. OLO has a 12 month low of $4.20 and a 12 month high of $8.35.

OLO (NYSE:OLO) last posted its earnings results on Tuesday, February 25th. The company reported $0.01 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 analysts’ expectations 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 analysts anticipate that OLO will post -0.03 EPS for the current year.

Hedge Funds Weigh In On OLO

Several hedge funds have recently made changes to their positions in OLO. Driehaus Capital Management LLC purchased a new position in shares of OLO during the fourth quarter worth about $9,691,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of OLO by 138.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company’s stock worth $14,561,000 after purchasing an additional 1,100,307 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of OLO by 85.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,655,500 shares of the company’s stock worth $12,714,000 after buying an additional 763,400 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of OLO by 48.5% during the fourth quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company’s stock worth $17,827,000 after buying an additional 757,617 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of OLO during the fourth quarter worth about $5,181,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

About OLO

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.