OLO (NYSE:OLO) Reaches New 52-Week High - Still a Buy?

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

Analyst Ratings Changes

Several brokerages have recently weighed in on OLO. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $10.25 price target on shares of OLO in a research note on Monday. Lake Street Capital raised their price target on shares of OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Piper Sandler raised their price target on shares of OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a research note on Monday. Finally, Wall Street Zen cut shares of OLO from a "buy" rating to a "hold" rating in a research note on Saturday.

OLO Trading Up 0.2%

The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 507.25 and a beta of 1.57. The company's 50 day moving average is $8.55 and its 200-day moving average is $7.45.

OLO (NYSE:OLO - Get Free Report) last issued its 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 company had revenue of $80.68 million during the quarter, compared to the consensus estimate of $77.47 million. OLO had a return on equity of 1.46% and a net margin of 1.09%. The firm's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS. Research analysts expect that Olo Inc. will post -0.03 EPS for the current year.

Insider Activity

In other OLO news, insider Robert Morvillo sold 10,129 shares of OLO stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $89,135.20. Following the completion of the transaction, the insider directly owned 386,516 shares of the company's stock, valued at $3,401,340.80. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Peter J. Benevides sold 23,078 shares of OLO stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $203,086.40. Following the transaction, the chief financial officer directly owned 702,061 shares of the company's stock, valued at approximately $6,178,136.80. This trade represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,630 shares of company stock valued at $864,454. 39.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On OLO

A number of institutional investors have recently modified their holdings of OLO. SBI Securities Co. Ltd. bought a new stake in shares of OLO in the fourth quarter valued at about $35,000. Charles Schwab Investment Management Inc. boosted its position in shares of OLO by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,036,408 shares of the company's stock valued at $7,960,000 after acquiring an additional 18,474 shares during the period. Aigen Investment Management LP boosted its position in shares of OLO by 66.9% in the fourth quarter. Aigen Investment Management LP now owns 44,526 shares of the company's stock valued at $342,000 after acquiring an additional 17,855 shares during the period. Arizona State Retirement System boosted its position in shares of OLO by 5.1% in the fourth quarter. Arizona State Retirement System now owns 30,358 shares of the company's stock valued at $233,000 after acquiring an additional 1,464 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of OLO in the fourth quarter valued at about $2,346,000. 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.