OLO (NYSE:OLO) Reaches New 12-Month High - Should You Buy?

Shares of Olo Inc. (NYSE:OLO - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $10.14 and last traded at $10.12, with a volume of 43516475 shares changing hands. The stock had previously closed at $8.91.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen cut OLO from a "buy" rating to a "hold" rating in a research report on Saturday. Lake Street Capital boosted their target price on OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 9th.

OLO Trading Up 13.6%

The company has a 50 day moving average price of $8.55 and a 200 day moving average price of $7.45. The firm has a market cap of $1.68 billion, a PE ratio of 506.25 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $80.68 million for the quarter, compared to analyst estimates of $77.47 million. OLO had a return on equity of 1.46% and a net margin of 1.09%. The company's quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 EPS. As a group, equities research analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at OLO

In other news, insider Sherri Manning sold 5,657 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $49,781.60. Following the sale, the insider owned 297,926 shares of the company's stock, valued at $2,621,748.80. The trade was a 1.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter J. Benevides sold 23,078 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $203,086.40. Following the completion of the sale, the chief financial officer directly owned 702,061 shares in the company, valued at approximately $6,178,136.80. The trade was a 3.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,630 shares of company stock worth $864,454. Corporate insiders own 39.33% of the company's stock.

Institutional Investors Weigh In On OLO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of OLO by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 15,090,745 shares of the company's stock worth $91,148,000 after purchasing an additional 401,364 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of OLO by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,491,755 shares of the company's stock worth $26,817,000 after buying an additional 206,538 shares during the last quarter. Nuveen LLC acquired a new stake in shares of OLO during the 1st quarter worth $15,330,000. Geode Capital Management LLC lifted its position in OLO by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,466,289 shares of the company's stock valued at $18,945,000 after buying an additional 21,484 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in OLO by 48.5% in the 4th quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company's stock valued at $17,827,000 after purchasing an additional 757,617 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company's stock.

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.