OLO (NYSE:OLO) Trading 3.3% Higher

Shares of Olo Inc. (NYSE:OLO) traded up 3.3% on Thursday . The company traded as high as $38.36 and last traded at $38.36. 138 shares traded hands during trading, a decline of 100% from the average session volume of 462,917 shares. The stock had previously closed at $37.15.

Several analysts have commented on the stock. William Blair started coverage on shares of OLO in a research report on Monday, April 12th. They set an “outperform” rating for the company. The Goldman Sachs Group began coverage on shares of OLO in a report on Monday, April 12th. They set a “neutral” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of OLO in a research note on Monday, April 12th. They set an “overweight” rating and a $36.00 price target on the stock. Truist Securities began coverage on OLO in a research note on Monday, April 12th. They issued a “buy” rating and a $34.00 target price for the company. Finally, Piper Sandler assumed coverage on OLO in a research report on Monday, April 12th. They set an “overweight” rating and a $35.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $32.00.

The business’s 50-day simple moving average is $34.59.

OLO (NYSE:OLO) last issued its quarterly earnings data on Tuesday, May 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The company had revenue of $36.12 million during the quarter, compared to analyst estimates of $31.59 million. Analysts anticipate that Olo Inc. will post -0.07 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Nellore Capital Management LLC acquired a new position in shares of OLO in the 1st quarter valued at $26,000. Teachers Retirement System of The State of Kentucky purchased a new position in OLO in the first quarter valued at $48,000. Citigroup Inc. acquired a new position in shares of OLO in the first quarter worth about $106,000. Bamco Inc. NY acquired a new stake in shares of OLO during the 1st quarter valued at about $132,000. Finally, US Bancorp DE purchased a new position in shares of OLO in the 1st quarter valued at about $263,000. 47.07% of the stock is currently owned by institutional investors and hedge funds.

About OLO (NYSE:OLO)

Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Ordering, an on-demand commerce solution that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; Dispatch, a fulfillment solution, which enables restaurants to offer, manage, and expand direct delivery; and Rails, an aggregator and channel management solution, which allows restaurants to control and syndicate menu, pricing, location data, and availability.

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