Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Olo Inc. (NYSE:OLO)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Olo Inc. (NYSE:OLO) by 18.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,178 shares of the company’s stock after purchasing an additional 3,991 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in OLO were worth $150,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Lord Abbett & CO. LLC bought a new position in OLO during the third quarter valued at $3,499,000. Charles Schwab Investment Management Inc. raised its position in OLO by 190.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 821,404 shares of the company’s stock worth $4,978,000 after purchasing an additional 538,231 shares during the period. Vanguard Group Inc. lifted its stake in OLO by 4.4% in the third quarter. Vanguard Group Inc. now owns 11,849,783 shares of the company’s stock worth $71,810,000 after purchasing an additional 495,247 shares during the last quarter. Advantage Alpha Capital Partners LP boosted its position in shares of OLO by 83.5% during the third quarter. Advantage Alpha Capital Partners LP now owns 662,108 shares of the company’s stock valued at $4,012,000 after buying an additional 301,302 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in shares of OLO by 94.6% during the third quarter. Panagora Asset Management Inc. now owns 577,563 shares of the company’s stock valued at $3,500,000 after buying an additional 280,811 shares during the last quarter. Institutional investors own 93.40% of the company’s stock.

OLO Stock Performance

OLO stock opened at $4.68 on Thursday. Olo Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $8.84. The company has a market capitalization of $757.69 million, a PE ratio of -13.06 and a beta of 1.29. The company has a 50 day moving average price of $5.22 and a 200-day moving average price of $5.35.

OLO (NYSE:OLO) last issued its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $66.51 million during the quarter, compared to analyst estimates of $64.22 million. OLO had a negative return on equity of 2.96% and a negative net margin of 25.53%. OLO’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) EPS. On average, analysts forecast that Olo Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price objective on OLO from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company 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.