OLO (NYSE:OLO) Sets New 1-Year High - Still a Buy?

Key Points

• Olo Inc. (NYSE:OLO) reached a new 52-week high of $10.54 during trading, closing at $10.46 with substantial volume of approximately 14.36 million shares.
• Wall Street analysts show a mixed outlook on the stock, with a consensus rating of "Hold" and a target price averaging $10.17, while notable ratings were downgraded by several firms recently.
• In its latest earnings report, Olo reported $80.68 million in revenue, exceeding expectations, alongside earnings per share of $0.07, reflecting a 21.3% year-over-year revenue increase.

Shares of Olo Inc. (NYSE:OLO - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $10.54 and last traded at $10.46, with a volume of 14355745 shares. The stock had previously closed at $10.13.

Analysts Set New Price Targets

Several research analysts recently commented on OLO shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $10.25 price target 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 report on Saturday, July 5th. Piper Sandler raised their target price on shares of OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a research report on Monday, July 7th. Lake Street Capital downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Truist Financial downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $10.17.

OLO Stock Performance

The business's fifty day moving average price is $9.36 and its two-hundred day moving average price is $7.80. The firm has a market capitalization of $1.73 billion, a P/E ratio of 520.76 and a beta of 1.58.

OLO (NYSE:OLO - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. OLO had a net margin of 1.09% and a return on equity of 1.46%. OLO's revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the business earned $0.05 EPS. Sell-side analysts predict that Olo Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling at OLO

In other OLO news, Director Zuhairah Scott Washington sold 10,000 shares of OLO stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.48, for a total transaction of $84,800.00. Following the completion of the sale, the director directly owned 68,677 shares in the company, valued at approximately $582,380.96. The trade was a 12.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Peter J. Benevides sold 23,078 shares of OLO stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $203,086.40. Following the sale, the chief financial officer owned 702,061 shares of the company's stock, valued at approximately $6,178,136.80. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,630 shares of company stock worth $864,454. Corporate insiders own 39.33% of the company's stock.

Hedge Funds Weigh In On OLO

Several institutional investors have recently made changes to their positions in OLO. Thrivent Financial for Lutherans acquired a new position in OLO during the fourth quarter worth $258,000. American Century Companies Inc. grew its holdings in shares of OLO by 12.3% during the fourth quarter. American Century Companies Inc. now owns 200,754 shares of the company's stock worth $1,542,000 after buying an additional 21,966 shares in the last quarter. Sei Investments Co. grew its holdings in shares of OLO by 23.0% during the fourth quarter. Sei Investments Co. now owns 226,078 shares of the company's stock worth $1,736,000 after buying an additional 42,269 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of OLO during the fourth quarter worth $136,000. Finally, LPL Financial LLC grew its holdings in shares of OLO by 79.0% during the fourth quarter. LPL Financial LLC now owns 91,130 shares of the company's stock worth $700,000 after buying an additional 40,218 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Company Profile

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.