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OLO (NYSE:OLO) Hits New 52-Week High - Here's Why

OLO logo with Computer and Technology background

Olo Inc. (NYSE:OLO - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $10.15 and last traded at $10.14, with a volume of 909201 shares trading hands. The stock had previously closed at $10.14.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $10.25 price objective on shares of OLO in a research note on Monday, July 7th. Wall Street Zen downgraded shares of OLO from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Piper Sandler increased their price objective on shares of OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a research note on Monday, July 7th. Finally, Lake Street Capital cut shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, OLO currently has a consensus rating of "Hold" and a consensus target price of $10.17.

Check Out Our Latest Report on OLO

OLO Trading Down 0.2%

The company's 50-day simple moving average is $8.89 and its 200-day simple moving average is $7.54. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 506.25 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. OLO had a net margin of 1.09% and a return on equity of 1.46%. The company had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. During the same period in the prior year, the company posted $0.05 earnings per share. OLO's revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts expect that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at OLO

In other OLO news, CEO Noah H. Glass sold 10,152 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $89,337.60. Following the transaction, the chief executive officer directly owned 278,202 shares of the company's stock, valued at approximately $2,448,177.60. This trade represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joanna G. Lambert sold 38,614 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $339,803.20. Following the completion of the transaction, the chief operating officer directly owned 925,146 shares in the company, valued at $8,141,284.80. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,630 shares of company stock valued at $864,454 over the last 90 days. Insiders own 39.33% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. SMI Advisory Services LLC purchased a new position in shares of OLO in the first quarter worth about $62,000. Calamos Advisors LLC purchased a new position in shares of OLO in the first quarter worth about $63,000. Corton Capital Inc. purchased a new position in shares of OLO in the first quarter worth about $66,000. Envestnet Asset Management Inc. purchased a new position in shares of OLO in the fourth quarter worth about $80,000. Finally, Franklin Resources Inc. purchased a new position in shares of OLO in the fourth quarter worth about $81,000. 93.40% of the stock is owned by institutional investors.

OLO Company Profile

(Get Free Report)

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.

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