OLO (NYSE:OLO) Earns “Sector Perform” Rating from Royal Bank Of Canada

Royal Bank Of Canada reiterated their sector perform rating on shares of OLO (NYSE:OLO) in a research report sent to investors on Monday morning, Marketbeat.com reports. Royal Bank Of Canada currently has a $10.25 price target on the stock.

OLO has been the topic of several other reports. Lake Street Capital boosted their target price on shares of OLO from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Wall Street Zen cut shares of OLO from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th.

OLO Trading Up 0.1%

Shares of OLO stock opened at $10.13 on Monday. The business’s 50 day moving average is $8.78 and its two-hundred day moving average is $7.50. OLO has a twelve month low of $4.20 and a twelve month high of $10.15. The company has a market capitalization of $1.68 billion, a P/E ratio of 506.75 and a beta of 1.57.

OLO (NYSE:OLO) last announced its earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. OLO had a return on equity of 1.46% and a net margin of 1.09%. The company had revenue of $80.68 million for the quarter, compared to the consensus estimate of $77.47 million. During the same period last year, the business posted $0.05 EPS. The company’s revenue was up 21.3% on a year-over-year basis. As a group, equities analysts predict that OLO will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Morvillo sold 10,129 shares of OLO stock in a transaction 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 completion of the transaction, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Peter J. Benevides sold 23,078 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total value of $203,086.40. Following the sale, the chief financial officer owned 702,061 shares in the company, valued at approximately $6,178,136.80. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,630 shares of company stock worth $864,454. 39.33% of the stock is owned by insiders.

Institutional Investors Weigh In On OLO

A number of large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in shares of OLO in the fourth quarter valued at about $35,000. Charles Schwab Investment Management Inc. raised its position in shares of OLO by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,036,408 shares of the company’s stock worth $7,960,000 after purchasing an additional 18,474 shares during the last quarter. Arizona State Retirement System raised its position in shares of OLO by 5.1% during the 4th quarter. Arizona State Retirement System now owns 30,358 shares of the company’s stock worth $233,000 after purchasing an additional 1,464 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in OLO in the 4th quarter valued at approximately $2,346,000. Finally, Amundi grew its holdings in OLO by 93.0% during the 4th quarter. Amundi now owns 14,740 shares of the company’s stock valued at $112,000 after buying an additional 7,101 shares during the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

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.