OLO (NYSE:OLO) Posts Quarterly Earnings Results, Meets Estimates

OLO (NYSE:OLO) issued 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 company had revenue of $66.51 million during the quarter, compared to the consensus estimate of $64.22 million. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS.

OLO Stock Performance

Shares of OLO traded down $0.05 during mid-day trading on Wednesday, reaching $4.64. The company had a trading volume of 1,616,052 shares, compared to its average volume of 953,524. The company has a market capitalization of $751.22 million, a price-to-earnings ratio of -14.14 and a beta of 1.29. The company’s 50 day simple moving average is $5.22 and its 200 day simple moving average is $5.35. OLO has a 1-year low of $4.25 and a 1-year high of $8.84.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their price objective on shares of OLO from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, OLO presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.10.

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.