What Makes Olo (OLO) Stock Attractive?
Conestoga Capital Advisors, an asset management company, released its “Conestoga Micro Cap Growth Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the Micro-Cap composite declined 0.67% compared to a 2.14% return for the Russell Microcap Growth Index. The negative stock selection and underweight exposure to the top-performing Health Care sector resulted in the fund’s underperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Conestoga Capital Advisors highlighted stocks like Olo Inc. (NYSE:OLO) in its Q3 2022 investor letter. Headquartered in New York, New York, Olo Inc. (NYSE:OLO) is a SaaS platform provider for restaurants. On December 15, 2022, Olo Inc. (NYSE:OLO) stock closed at $6.87 per share. One-month return of Olo Inc. (NYSE:OLO) was -10.89%, and its shares lost 68.41% of their value over the last 52 weeks. Olo Inc. (NYSE:OLO) has a market capitalization of $1.123 billion.
Conestoga Capital Advisors made the following comment about Olo Inc. (NYSE:OLO) in its Q3 2022 investor letter:
"Olo Inc. (NYSE:OLO): OLO is a leading open SaaS platform for restaurants that enables digital hospitality at every touchpoint. Over 600 restaurant brands and their 82,000 locations trust OLO to grow their digital ordering and delivery programs, increase efficiency, and serve their guests. OLO processes more than two million orders per day and greater than $20 billion in gross merchandise value per year. OLO benefits as restaurants digitize, a trend that accelerated during the pandemic and continues to grow as labor constrains restaurant throughput. The company is a profitable, +20% grower that we believe can continue to increase margins and free cash flow as revenue scales.”
Syda Productions/Shutterstock.com
Olo Inc. (NYSE:OLO) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 17 hedge fund portfolios held Olo Inc. (NYSE:OLO) at the end of the third quarter, which was 15 in the previous quarter.
We discussed Olo Inc. (NYSE:OLO) in another article and shared stocks to buy now according to billionaire Jeffrey Talpins. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
