OLO (NYSE:OLO) Given New $9.00 Price Target at Lake Street Capital

OLO (NYSE:OLO) had its target price boosted by Lake Street Capital from $8.50 to $9.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Piper Sandler restated an overweight rating and set a $8.00 target price on shares of OLO in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $9.40.

OLO Stock Performance

OLO traded down $0.14 during trading on Thursday, hitting $5.26. The stock had a trading volume of 1,300,338 shares, compared to its average volume of 988,237. The company has a 50 day moving average price of $4.55 and a 200-day moving average price of $5.01. OLO has a one year low of $4.20 and a one year high of $7.84.

OLO (NYSE:OLO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. OLO had a negative return on equity of 0.47% and a negative net margin of 9.36%. The company had revenue of $70.50 million during the quarter, compared to analysts’ expectations of $67.79 million. During the same quarter in the previous year, the firm earned ($0.04) EPS. OLO’s revenue was up 27.6% on a year-over-year basis. Research analysts expect that OLO will post -0.08 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Diego Panama sold 40,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $4.70, for a total value of $188,000.00. Following the completion of the sale, the executive now directly owns 592,806 shares of the company’s stock, valued at $2,786,188.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Peter J. Benevides sold 10,259 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.52, for a total transaction of $46,370.68. Following the completion of the sale, the chief financial officer now directly owns 424,933 shares of the company’s stock, valued at $1,920,697.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Diego Panama sold 40,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $4.70, for a total value of $188,000.00. Following the completion of the sale, the executive now directly owns 592,806 shares of the company’s stock, valued at $2,786,188.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,686 shares of company stock worth $362,798. Corporate insiders own 39.33% of the company’s stock.

Institutional Trading of OLO

A number of large investors have recently bought and sold shares of the company. Rhumbline Advisers increased its position in OLO by 3.3% in the second quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock worth $680,000 after buying an additional 4,979 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in shares of OLO by 30.6% in the second quarter. Conestoga Capital Advisors LLC now owns 310,310 shares of the company’s stock worth $1,372,000 after acquiring an additional 72,685 shares during the period. SG Americas Securities LLC bought a new position in shares of OLO in the second quarter worth $249,000. Bayesian Capital Management LP bought a new position in shares of OLO in the first quarter worth $188,000. Finally, Silvercrest Asset Management Group LLC boosted its holdings in shares of OLO by 3.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company’s stock worth $4,815,000 after acquiring an additional 26,919 shares during the period. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Company Profile

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.