Ride Sharing and Food Delivery Stocks List Ranked by Hedge Fund Sentiment

7. Olo Inc. (NYSE:OLO)

Number of Hedge Fund Holders: 30

Olo Inc. (NYSE:OLO) functions as an enterprise-grade, open SaaS platform that helps restaurants with online food delivery and ordering. It offers a cloud-based platform that helps restaurants manage deliveries, handle orders, and enhance customer connections. The company’s software integrates with a number of restaurant technology solutions like point-of-sale (POS) systems, delivery service providers, and payment processors, streamlining operations for restaurant businesses. It serves a range of restaurant chains, including Wingstop and Shake Shack.

On March 24, Lake Street analyst Eric Martinuzzi maintained a Buy rating on Olo Inc. (NYSE:OLO) and set a price target of $9.00. In another report released on March 20, Terry Tillman from Truist Financial also maintained a Buy rating on the company.

Olo Inc. (NYSE:OLO) reported strong operations in 2024, with over $29 billion in gross merchandise volume. The company more than doubled its gross payment volume to $2.8 billion, up from $1 billion in 2023, and released 13 product enhancements in its upgraded platform version. These enhancements included AI-powered menu item recommendations. Olo Inc. (NYSE:OLO) has an optimistic outlook for 2025 and expects revenue to fall between $333-$336 million and adjusted operating income between $45.5-$47 million. The company ranks 7th on our ride-sharing and food delivery stocks list.