OLO (NYSE:OLO) Releases Earnings Results, Hits Estimates

OLO (NYSE:OLO) released its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05, Briefing.com reports. The business had revenue of $66.51 million during the quarter, compared to analysts’ expectations of $64.22 million. OLO had a negative return on equity of 2.96% and a negative net margin of 25.53%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS.

OLO Price Performance

Shares of OLO stock opened at $4.71 on Thursday. The business has a 50-day moving average of $5.20 and a 200 day moving average of $5.34. OLO has a 12 month low of $4.25 and a 12 month high of $8.84. The stock has a market capitalization of $762.55 million, a price-to-earnings ratio of -13.00 and a beta of 1.29.

Analyst Ratings Changes

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

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.