OLO (NYSE:OLO) Issues Quarterly Earnings Results, Hits Expectations

OLO (NYSE:OLO) issued its quarterly earnings data on Tuesday. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05, Briefing.com reports. The company 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 firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) earnings per share.

OLO Price Performance

OLO traded down $0.06 during trading on Friday, reaching $4.69. 281,191 shares of the stock were exchanged, compared to its average volume of 964,959. The business’s 50 day moving average price is $5.18 and its two-hundred day moving average price is $5.34. The company has a market capitalization of $759.31 million, a price-to-earnings ratio of -13.19 and a beta of 1.29. OLO has a 1 year low of $4.25 and a 1 year high of $8.84.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their target price on OLO from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Four investment 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, the stock has an average rating of “Moderate Buy” and an average 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.